Bitcoin traders weigh next move with BTC price at crucial 200-week trendline
Bitcoin keeps the market guessing over how it will treat the 200-week moving average at $26,500. Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market participants waited for signals BTC/USD 1-hour candle chart on Bitstamp with 200WMA. Source: TradingView BTC spot clings to 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling a key long-term trend line near $26,500. After flash volatility surrounding industry news events, the pair returned to sideways trading after bouncing from three-month lows. Now, the 200-week moving average (WMA) formed a critical focus. “We are currently sitting right on the 200WMA,” trading suite Decen trader wrote in part of the day’s Analysis . Decen trader opted for a conservative view of short timeframes, warning over an increasing long/short ratio on exchanges and that the U.S. trading session may open with selling. The LTF bear case for #Bitcoin: The Long/Short ratio is continuing ...