Bitcoin Breaks Key Support, New Resistance Level Emerges

Bitcoins recent plunge below a key support level signals a potential shift in market trends, with traders now cautious about a longer-term sell-off. The cryptocurrencys fifty-week simple moving average, once a reliable floor, has now become a resistance point, potentially hindering any price increases. Meanwhile, MicroStrategys stock, which also fell below its fifty-week moving average, serves as a cautionary tale, suggesting Bitcoin could face a similar downward trend.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.