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Cryptos Take a Step Back

Binance Futures
2022-09-19 14:28
For crypto market data and insights, please make sure to read Binance Futures Weekly Report.
Bitcoin closed on Sunday, Sep 18, at $19,418.00 after its uptrend was rejected from a critical resistance level.
From a technical perspective, BTC failed to slice through the 200-week moving average. The rejection triggered a steep correction, allowing the BTC/USDT trading pair to incur a week-to-week loss of more than 11%. The most significant support area underneath BTC now sits at $19,000.00 and around the 2019 high at $13,888.30.
Bitcoin needs to gain the 200-week moving average as support to have a chance of recovering and marching toward the 50-week moving average at around $37,000.00.
To learn more about Bitcoin and what happened in the cryptocurrency market between Sep 12th and Sep 18th, 2022, please make sure to read Binance Futures Weekly Report.
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