Bitcoin price will get 'another test' of 200-week trend line — analyst
A crucial BTC price support is coming back into the picture with Bitcoin bulls struggling below $27,000. Bitcoin (BTC) fell to multi-day lows at the June 5 Wall Street open as action heated up on exchanges. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Van de Poppe: Trend line failure could mean "bottom isn't in yet" Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $26,640 on Bitstamp. Down nearly 3% versus the weekend’s highs, the pair looked weak as key support lines inched closer. Among these was the 200-week moving average (MA), now at $26,400, which had weathered repeated tests to stay as support since mid-March. “Bitcoin is going to get another retest of support at the 200-Week MA (purple),” Keith Alan, co-founder of monitoring resource Material Indicators, warned in commentary on the weekly chart. “IMO, a Weekly candle close below the 200-Week MA would be an indication that the bottom isn't in yet. Things could get ...