What do you think will happen to Babydoge in the next few da | Criptome on Binance Square

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What do you think will happen to Babydoge in the next few days? Will it fall more? Will it rise? Will it remain stable $1MBABYDOGE

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Bitcoin Drops Below 200-Day Average and Brings Bull Market Trend into Focus BTC fell below the 200-day SMA line for the first time since October. The focus is now on the trend line representing the rise since the October lows. Bitcoin's (BTC) decline gained momentum as the largest Cryptocurrency fell for the third day in a row, dropping below the 200-day simple moving average (SMA), a good indicator of long-term price trends in both Traditional and Crypto Markets. The cryptocurrency fell below the average level of $58,492 during European hours on Thursday to below $57,300, a price last seen on May 2, according to data from charting platform TradingView. Markets that consistently trade below the 200-day average are said to be in a downtrend, while those that trade above the average are said to be bullish. BTC surpassed the 200-day SMA in October when the average value was $28,000. The breakout – fueled by expectations of a US spot Bitcoin ETF – paved the way for a rally that reached record highs above $70,000 in March. One factor in bitcoin price movements is the US interest rate. As rates fall, the attraction of riskier investments, such as cryptocurrencies, increases. Federal Reserve meeting minutes released on Wednesday showed that policymakers led by Chairman Jerome Powell do not want to cut rates until more data emerges that gives them greater confidence that inflation is moving sustainably toward its target of two%. That could happen as early as tomorrow, when the Department of Labor releases June nonfarm payrolls numbers. See also: Bitcoin Drops Below $59K as Crypto Bulls See $230M Liquidations See also: Bitcoin Drops Below $59K as Crypto Bulls See $230M Liquidations The progression of the bull market can be identified by an ascending trendline connecting the October and January lows. BTC's latest break below the 200-day line has put focus on bull market trendline support at $57,590. #bitcoin

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