The next level of support below $25,000 is at $20,000, Ginsberg said. Although it may be losing momentum, the 200-day moving average is still ascending. Bitcoin's 50-day moving average began turning lower in August and recently crossed below its 200-day moving average. Short term price action is never our worry, it's when longer term trends start to break, that we want to take notice and pivot accordingly." BTC.CM= 6M mountain Bitcoin recently fell below key support at $25,000 for the first time since March. ![]() "This is often one of our more reliable warning signs and part of the reason we are currently bearish on the broader market. ![]() "Coins are taking out crucial levels of support across the board and there's not many bright spots to be found at the moment." "Longer term momentum is starting to break in bitcoin," he added. However, as we look around, the crypto landscape is growing ever more concerning," Wolfe analyst Rob Ginsberg said in a note Wednesday. "With support in this area on dual fronts, it makes sense that price would hold and consolidate in this region. That means crypto investors who have been patiently waiting for better days may want to consider their positions. That long-term momentum is starting to break, however. ![]() While bitcoin has been floating in the narrow range of $25,000 to $30,000 all year, investors have cheered its resilience knowing potential catalysts such as developments around bitcoin exchange-traded funds were on the horizon. The flagship cryptocurrency tested this threshold at various points this year, but it always rebounded. Earlier this week, bitcoin fell below $25,000 for the first time since March. Personal Loans for 670 Credit Score or Lowerīitcoin's price this week is near a familiar and key support level, but its latest stop there is a little more worrying than previous ones this year, according to Wolfe Research. Personal Loans for 580 Credit Score or Lower Registrar Abuse Contact Phone: +1.Best Debt Consolidation Loans for Bad Credit Registry Domain ID: 1704959674_DOMAIN_COM-VRSN X-amz-cf-id: yXYXBTgvLOJF2cF_WR_AdtqKIy8MawN5bXYRRaSdY8O-x7OwbcTQcA= Strict-transport-security: max-age=31536000 includeSubDomainsĪccept-ch: Sec-CH-UA-Platform-Version,Sec-CH-UA-Model ![]() Strict-Transport-Security: max-age=31536000 includeSubDomainsĪccept-CH: Sec-CH-UA-Platform-Version,Sec-CH-UA-Model Set-Cookie: _s=qt%2FuZQPXjz6TdLyodxJsU8nd%2BoJRy5gUP4Q4th3PelK6vjZiXV5F3xjQp9EF4WO2 Max-Age=31536000 Path=/ Expires=Mon, 02:42:39 GMT Secure Set-cookie: _cfuvid=d_VbUvPiqqjK3DIVbB9qf.cM.R.d902DYNkVCxaA9zM-1694918554800000 path=/ domain=. HttpOnly Secure SameSite=None Set-cookie: _cf_bm=1LOaY49DTtN9SM17QIK1XhT298CpI7qXsqXr5t8ZryI-1694918559-0-Adq9bB3M1KX5+sYTXH1oEuscFsFLUTEah3WmRioZh7F5AbRnc1ghZTXuUIiJiAkYLf8gjdcnEqn0U8lpJo8Vcc8= path=/ expires=Sun, 17-Sep-23 03:12:39 GMT domain=. HttpOnly Secure SameSite=None Referrer-policy: strict-origin-when-cross-origin Strict-transport-security: max-age=604800
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