Crypto analysts predicted Bitcoin could fall to its 50-week moving average before reversing, citing leverage concerns and historical support patterns.
Crypto market analysts are eyeing one more Bitcoin flush near $104,000 before the crypto bull market will have a chance to restart, based on historical patterns.
Bitcoin’s long-term support technical indicator is the 50-week simple moving average, and that currently stands at around $102,500 according to TradingView.
It has served as solid support four times since the bull market began in mid-2023 and is likely to be revisited again, analysts said.
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