Currently hovering around $26,283, the 200-week moving average will act as a crucial support level. A fast breakout to the upside would signal the end of the correction phase. By continuing to use Live Coin Watch you agree to our cookies policy. This can be done cheaper, faster and easier to use. You can transfer bitcoin and other crypto coins to anywhere in the world and shop online made easy.
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The upcoming week holds a make-or-break moment for Bitcoin, as the analyst points out. View a list of Live Coin Watch integrations currently available and learn what software integrates with Live Coin Watch in 2023. The outcome of this retest is likely to have a profound impact on the market sentiment.Īlso Read: Anthony Scaramucci: Bitcoin 50% Undervalued, ‘Explosive Returns’ Await with Key Catalyst – Coinpedia Fintech News Consolidation Phase says the Bitcoin NFT ecosystem could be worth 4.5 billion by 2025, while about 25,000 memecoins have been tallied on the blockchain since they first emerged in March. After spending an extended period below the moving average, Bitcoin is currently deemed undervalued, making this retest even more significant. CoinDesk’s story this week about a fight over a bitcoin mining facility in Upstate New York reveals how cryptocurrency. Historical data supports the notion that this phrase often presents an excellent opportunity for accumulation. Van de Poppe suggests that a successful retest of the 200-week MA could indicate the conclusion of the Bitcoin correction. As the market eagerly watches, Michaël van de Poppe predicts that the next few days will be pivotal for Bitcoin’s prospects, with a particular focus on the retest of the 200-week moving average (MA) as a key technical indicator.
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