This daily-based indicator in the Bitcoin (BTC) price may herald a new correction.
Bitcoin, which has become unstable after the spot Bitcoin exchange traded fund (ETF) approvals, is on a daily basis. With the 50-day moving average (MA50) is struggling.
About subject in comment Analysis platform Barchart stated that the price returned below MA50 after a long break and warned of a possible decline. At the time of writing MA50 Level $42,793 It falls within the band. Bitcoin has not yet made a clear move as to whether it will stay below or above this level.
on the other hand MA50 on January 14 The price closing below was enough to send investors into panic. on January 15 A strong buying candle occurred, but despite this, a close above MA50 was not achieved.
Strong closings above MA50 in the past period rising waveClosings below , are generally bearish brought the movement.
According to CoinGecko data, up to date from $42,687 Bitcoin traded is still this is below the critical average positioning.
