BTC is around 77.5k tonight. It dipped as low as 76.3k during the day, right around the 200-day moving average, then bounced back. Put simply, this line represents the average cost over most of the past six months: staying above it means the trend is still intact; break below it, and we’ll have to tell a different story. I’m leaning toward it holding. It’s bounced off this line plenty of times amid panic, but if it really breaks here, there won’t be much of a safety net below. Pick a side tonight: are you betting it holds the 200-day MA, or that it breaks by the weekend?

$BTC