Bitcoin is waiting for the 100-day moving average just as it had on previous runs before the surge. The most recent surge from the 50-day moving average failed to break resistance.
Temporarily falling to the 100-day moving average flags an "on-sale" sign, especially after trading sideways showing strong support for a long period of time.
I don't expect Bitcoin to fall to $10K right now, so it looks like we'll be in this side-ways for now, enough time for the 100-day moving average to make it's way up. I suspect Bitcoin to hit the 100-day moving average within the next 2 weeks. Where much of the market seems to follow Bitcoin's momentum, I suspect a majority of the market will move based on this target.
Temporarily falling to the 100-day moving average flags an "on-sale" sign, especially after trading sideways showing strong support for a long period of time.
I don't expect Bitcoin to fall to $10K right now, so it looks like we'll be in this side-ways for now, enough time for the 100-day moving average to make it's way up. I suspect Bitcoin to hit the 100-day moving average within the next 2 weeks. Where much of the market seems to follow Bitcoin's momentum, I suspect a majority of the market will move based on this target.