Analysis: Bitcoin faces technical resistance at 200-day moving average
Material Indicators LLC, a fintech startup that provides algorithmic trading indicators and tools, said that Bitcoin is facing strong technical resistance at the 200-day moving average line. If the bulls can break through this resistance at the close on Sunday, it should push some short-term momentum. If Bitcoin fails to do so, be prepared for the market to test support levels in the range of $50,000 to $53,000.
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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