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Bitcoin has only fallen below the weekly MA200 level in previous years, and in 2022.
In the other years, this level stayed as the month’s bottom and then rebounded, kicking off its bull run.
We’re at the same level again.
Current weekly MA200 $62,459
This is where the price’s fate will be decided.
A close below it will turn the 60k support into a candle cracker. We’ll start spending time around the 55 band.