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Bitcoin mirrors 2022 bear market pattern
The Block·
CryptoQuant analysis suggests Bitcoin's recent price action is echoing patterns observed during the March 2022 bear market. The cryptocurrency encountered resistance at its 200-day moving average, a level that previously marked a significant downturn. This technical indicator, combined with a shift in market sentiment towards extreme bearishness, raises concerns about a potential continuation of the downtrend. Investors are closely watching these signals for further indications of market direction.
Tickers
$BTC-USD
Tags
crypto
fintech
macro
Original Source
The Block — theblock.co