🚨 BITCOIN JUST LOST ITS 50-WEEK MOVING AVERAGE — A LEVEL IT HELD FOR 7 WEEKS
BTC broke below its 50-week moving average near $76,100 — a key long-term trend line bulls defended for 7 straight weeks. 👀
The damage is piling up: $732 MILLION in crypto positions got liquidated in 24 hours, and $578 MILLION of that was longs. BTC is now fighting near ~$74,000 after tagging $72,727 overnight.
Traders now see an 86% chance of a Fed rate hike in December — and a 14% chance it could be a bigger 50bps move.
Is losing the 50-week MA the signal the bull run is over — or the shakeout before the reclaim? 👇
#Bitcoin #BTC #Crypto
BTC broke below its 50-week moving average near $76,100 — a key long-term trend line bulls defended for 7 straight weeks. 👀
The damage is piling up: $732 MILLION in crypto positions got liquidated in 24 hours, and $578 MILLION of that was longs. BTC is now fighting near ~$74,000 after tagging $72,727 overnight.
Traders now see an 86% chance of a Fed rate hike in December — and a 14% chance it could be a bigger 50bps move.
Is losing the 50-week MA the signal the bull run is over — or the shakeout before the reclaim? 👇
#Bitcoin #BTC #Crypto