Analyst: Bitcoin’s recent fall below the 200-day simple moving average may indicate a buying opportunity
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According to Odaily Odaily, chain analyst Ali YuX wrote that according to Glassnode data, Bitcoin recently fell below the 200-day simple moving average (SMA). His analysis said that in an upward trend, Bitcoin falling below the 200-day SMA may indicate a buying opportunity. However, staying below this level for a long time may mean the beginning of a bear market.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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