Bitcoin could be held down by the 50 Week MA
Previous bear market held down Bitcoin during accumulation at the 50-Week MA.
As Bitcoin moves closer to the $5500-$5600 area resistance, we see that the 50 Week MA is very close by and could add pressure along with horizontal resistance to keep Bitcoin from pushing to 6k at this time.
As Bitcoin moves closer to the $5500-$5600 area resistance, we see that the 50 Week MA is very close by and could add pressure along with horizontal resistance to keep Bitcoin from pushing to 6k at this time.
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