Analyst: BTC recently fell below the 200-day simple moving average, which may indicate a buying opportunity

Bitget2024/08/18 10:43

On-chain analyst Ali posted on social media, according to Glassnode data, Bitcoin recently fell below the 200-day Simple Moving Average (SMA). His analysis suggests that in an upward trend, Bitcoin falling below the 200-day SMA may imply a buying opportunity. However, staying below this level for a long time could signal the start of a bear market.

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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Analyst: BTC recently fell below the 200-day simple moving average, which may indicate a buying opportunity

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