Bitcoin returns to 200-week trend line as analyst sees risk of $57.7K next
Summary
Bitcoin fell to $67,500 on Friday, slipping below its 200-week simple moving average for the first time since August. The level has acted as support and resistance during past market cycles. Material Indicators cofounder Keith Alan said weekly RSI support at 41.5 is also important: losing it could open a test of Bitcoin’s cycle low near $57,700, while holding the zone would be bullish. The decline coincided with weakness in Asian equities and US stock futures amid controversy surrounding Nvidia CEO Jensen Huang, though Nvidia shares edged higher pre-market amid reports of employee support for his return.
