12.5 C
New York

Bitcoin Price Nearing 200 week critical moving average

Published:

The 200 Week moving average has been keeping bulls in check while traders are keeping quiet on early breakthroughs. 

July 18 saw the Bitcoin (BTC) price float just at $22,000 at the Wall Street open. Market data has indicated that BTC/USD is heading back to consolidate after highs of $22,500 were seen on Bitstamp. This level showed the start of sell-side positions on the exchanges around the 200 WMA  which many commentators said would be hard to crack. 

A Market Analyst by the name of Rekt Capital on Twitter made a tweet stating his skepticism over the potential of Bitcoin to move upward so quickly. 

Bitcoin and other altcoins have been able to make the most relief on equities markets today,and at the steam time, the Asia and US market gains with the reatread of the U.S. dollar. Nasdaq and S&P are up 1% and .7% respectively. 

In a tweet, Whalemap, an on-chain analytics platform set a forecast with the text, “Prime time for Bitcoin.”

Information from Material Indicators also showed the same support amassing on Binance. 

Related articles

Recent articles