🔸Bitcoin closed below its 50-week moving average (MA) after holding above it for 7 consecutive weeks.
In two other instances (2011–2012 and 2019–2020), BTC also closed below the 50-week MA after breaking above it following the bear market bottom.
In neither case did the bearish trend lead to a new, lower low (according to weekly closing data).#BitcoinFiveWeeklyLosses #Write2Earn $BTC
In two other instances (2011–2012 and 2019–2020), BTC also closed below the 50-week MA after breaking above it following the bear market bottom.
In neither case did the bearish trend lead to a new, lower low (according to weekly closing data).#BitcoinFiveWeeklyLosses #Write2Earn $BTC
