0
Bitcoin (BTC) fell to $67,500 on Friday, slipping below its 200-week simple moving average on its first test of the level in nearly three months.
Key points:
- Bitcoin fell to its 200-week simple moving average at $67,993, marking its first interaction with the trend line in 11 weeks.
- Material Indicators co-founder Keith Alan said Bitcoin could revisit $57,700 if its weekly relative strength index fell below 41.5.
- Asian stocks and Nasdaq-100 futures fell following Jensen Huang’s resignation as Nvidia CEO.
BTC price falls back to 200-week simple moving average
TradingView data showed that Bitcoin last touched its 200-week simple moving average (SMA) on Aug. 19.
BTC/USD one-day chart with the 200-week SMA. Source: Cointelegraph/TradingView
The 200-week SMA has served as a reference point for Bitcoin’s cycle lows, acting as support or resistance during bear markets. Bitcoin traded around the average from March to October 2023 and again from…
