As per BitJie, Bitcoin is at a pivotal moment as market dynamics and macroeconomic shifts converge. Analysts note a strong bearish divergence and a rare two-week close below the 21-week SMA, with RSI levels similar to past critical junctures. Historical data suggests that dips to the 200-week or 300-week SMA often precede major cycles. Meanwhile, recent price action shows signs of strength, with a breakout above the 50 SMA and potential trend reversal signals emerging. Traders are advised to monitor daily closes above $87,000 to confirm a bullish shift.
Bitcoin at Crucial Crossroads: Breakout or Crash?
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