via Cointelegraph · By Cointelegraph Staff
Bitcoin May Undo Rally After Hitting Resistance: CryptoQuant
BTC/USDT
$34,672,765,202.93
$61,962.40 / $58,115.01
Change: $3,847.39 (6.62%)
-0.0015%
Shorts pay
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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