Bitcoin Price Analysis: Sellers Lean Against Key Moving Average

Monday, 18 March 2024, 18:47

Bitcoin's price experiences fluctuations today with sellers leaning against the 100-hour moving average at $68,142. Holding below this level could strengthen the bearish bias, especially if the price drops below the 38.2% retracement level at $64,927. Despite short-term bearish signals, buyers support near the retracement indicates a battle between bulls and bears in the market.
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Bitcoin Price Analysis: Sellers Lean Against Key Moving Average

Bitcoin Price Analysis

The price of Bitcoin shows volatility with traders leaning against the 100-hour moving average at $68,142.

Key Bias Levels

  • Sellers watch for price to stay below the moving average for control.
  • Breaking below the 38.2% retracement at $64,927 would increase bearish bias.

Market Sentiment

  1. Short-term bearish signs below moving average.
  2. Buyers demonstrate strength near retracement.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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