After being stopped by it last week, the bitcoin price is testing the 50-day moving average again. Will it break through this time?
Current support/resistance: $6'800/$7'200
After the upwards trend being stopped by the 50-day moving average and the resistance at the $7'300-$7'400 level last week, the bitcoin price witnessed a few dips, but after a recent spike it faces the 50-day moving average once more. If it bounces back again, that might cement the recent descending trend.
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