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via Cointelegraph · By Cointelegraph Staff
Bitcoin May Undo Rally After Hitting Resistance: CryptoQuant
BTC
BTC/USDT
$63,217.96
+0.18%
$63,217.96
+0.18%
(24s)24h Volume
$2,795,020,164.43
24h H/L
$63,390.00 / $62,968.45
Change: $421.55 (0.67%)
Long/Short
68.8%
Long: 68.8%Short: 31.3%
Funding Rate
+0.0038%
Longs pay
Data provided by COINOTAG DATALive data
CS
Cointelegraph Staff(06:55 AM UTC)
1 min read
Bitcoin is at risk of falling into a downtrend after its price hit a key historical “major bear market resistance level” based on its 200-day moving average, according to the crypto analytics firm CryptoQuant.
The cryptocurrency hit its 200-day moving average of $82,400 after rallying over six weeks since early April when it fell to $66,000, CryptoQuant said in a report on Wednesday.
“The 200-day…
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