Bitcoin approaches a critical "life-and-death defense line"! Analyst: Strategy has already fallen below, long positions are under pressure.Analysts point out that Bitcoin is hovering near the "critically important long-term support line" and has been holding on for as long as 3 weeks, causing the long positions in the market to be on edge. However, the publicly traded company Strategy (MSTR), as the largest Bitcoin holder in the world, has already been the first to break through this "safety line," sending a strong bearish signal to the crypto assets market.
CoinDesk senior analyst and chartered market technician Omkar Godbole explained that this "safety line" is the extremely critical "100-week simple moving average (100-week SMA)" in technical analysis, which mainly reflects the average cost over the past two years and is an indicator used by major market technical analysts to identify significant trend reversals, long-term support, or confirm market crashes.
From the trend perspective, the 100-week moving average has exerted strong power for 3 consecutive weeks.
区块客·1h ago