According to ME News, on August 25 (UTC+8), CryptoQuant analyst Axel Adler Jr. stated that BTC has reclaimed the short-term holder cost line at $68,200 during this rally, while volume-supported breakouts above the SMA111 at approximately $67,500 and the SMA200 at $69,000 have returned short-term buyers to profitability. However, he noted that the overall moving average structure remains bearish, as both the SMA111 and SMA200 are still below the SMA365 at approximately $83,200, meaning a larger-scale trend reversal has yet to be confirmed. Key support levels to monitor below are the $68,000–$69,000 range, while resistance above lies at $83,200; only if BTC breaks and sustains above the SMA365 could this serve as a significant confirmation of a trend change. (Source: ODAILY)
BTC regains key averages; $83,200 seen as crucial resistance for trend confirmation
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Summary
Bitcoin has reclaimed key moving averages, with the short-term holder cost line at $68,200 and the SMA111 at $67,500 and SMA200 at $69,000 all breached on rising volume. The bearish trend remains intact, as the SMA111 and SMA200 are still below the SMA365 at approximately $83,200. A confirmed reversal would require BTC to break above and sustain the SMA365 level.
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