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Analysis: Bitcoin faces technical resistance at 200-day moving average

Bitget2024/07/07 23:20

Golden Finance reported that Material Indicators LLC, a financial technology startup that provides algorithmic trading indicators and tools, said that Bitcoin faces strong technical resistance at the 200-day moving average. If the bulls can break through this resistance at the close of Sunday, then this should drive some short-term momentum. If Bitcoin fails to do this, be prepared for the market to test support in the $50,000 to $53,000 range.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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