Bitcoin trades mostly between the 100 and 200 bar MA on 4H.
Today, Bitcoin’s price is experiencing a downturn, currently trading at $63,128 after reaching a low of $62,720. Throughout the trading week, the cryptocurrency‘s value peaked on Wednesday, touching its 100-bar moving average on the 4-hour chart at approximately $68,137.
Since reaching this high, the price has progressively decreased, with today’s drop nearing the rising 200-bar moving average on the same chart, positioned at $62,393. Just beneath this average lies the 50% midpoint of the price increase from the February 24 low, at $62,188, indicating that the resistance at the 100-bar moving average has held firm.
As the price approaches…
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