Bitcoin retests weekly 200MA as traders debate support
Bitcoin is back at its weekly 200 moving averages after a sell-off, with some traders buying spot and others calling major support lost.
Bitcoin (BTC/USDT)
$68,793 +9.4% · 3 mo
What we know
An analyst notes BTC is at the weekly 200MA and EMA, earlier in the cycle than in past cycles, and that the low-to-mid $70Ks offered less support than expected. One trader says he is 75% allocated in spot and plans to add closer to $60k, while a video claims BTC is below higher-timeframe support.
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
@DaanCrypto
“Trading back at the Weekly 200MA & EMA”
View post →@tradermatt
“i now have 75% of my pot allocated”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.