#Bitcoin trades near $84,000 after a daily decline, with $88,000 above its weekly high and the 50-week SMA near $79,000 marking a lower reference.
Bitcoin traded near $83,800 on September 24, retreating toward the lower end of its daily range after a 2.74% decline over 24 hours.
The pullback followed a weekly advance that took Bitcoin above $87,000. CoinGecko recorded a seven-day low of $75,971.64 and a high of $87,329.89. Bitcoin’s latest price was approximately 4.1% below the upper end of that range, while remaining above the week’s lowest prices.
A recovery from $84,000 to $88,000 would represent an increase of approximately 4.8%. Reaching $88,000 would consequently extend Bitcoin beyond the top of its recent seven-day range.
On the downside, a move from $84,000 to $82,000 would amount to a decline of approximately 2.4%, while a drop to $80,000 would represent about 4.8%. Both levels remain within the recorded weekly range. Even a decline toward $79,000 would leave Bitcoin above the seven-day low near $75,972.
The area around $79,000 also overlaps with Bitcoin’s recently reclaimed 50-week simple moving average.
In a September 23 analysis, Kathy Lien placed the indicator at approximately $78,788, following a weekly Bitcoin close near $81,159. She reported that this was the first weekly close above the average in 45 weeks.
A pullback toward $79,000 would therefore bring Bitcoin close to that longer-term trend reference, around 6% below $84,000.
#Crypto
Bitcoin traded near $83,800 on September 24, retreating toward the lower end of its daily range after a 2.74% decline over 24 hours.
The pullback followed a weekly advance that took Bitcoin above $87,000. CoinGecko recorded a seven-day low of $75,971.64 and a high of $87,329.89. Bitcoin’s latest price was approximately 4.1% below the upper end of that range, while remaining above the week’s lowest prices.
A recovery from $84,000 to $88,000 would represent an increase of approximately 4.8%. Reaching $88,000 would consequently extend Bitcoin beyond the top of its recent seven-day range.
On the downside, a move from $84,000 to $82,000 would amount to a decline of approximately 2.4%, while a drop to $80,000 would represent about 4.8%. Both levels remain within the recorded weekly range. Even a decline toward $79,000 would leave Bitcoin above the seven-day low near $75,972.
The area around $79,000 also overlaps with Bitcoin’s recently reclaimed 50-week simple moving average.
In a September 23 analysis, Kathy Lien placed the indicator at approximately $78,788, following a weekly Bitcoin close near $81,159. She reported that this was the first weekly close above the average in 45 weeks.
A pullback toward $79,000 would therefore bring Bitcoin close to that longer-term trend reference, around 6% below $84,000.
#Crypto