Bitcoin falls below its 200-week moving average
$BTC slipped below its 200-week simple moving average during trading on November 13, according to Cointelegraph.
This indicator averages 200 weekly closing prices, covering almost four years. It helps describe Bitcoin’s longer-term trend, but its historical importance does not make it a guaranteed floor.
The move followed a rise in US Treasury yields. Federal Reserve data showed higher 10-year and 30-year yields on November 12 versus the previous trading day. ECB reference rates also showed the dollar strengthening against the euro.
That provides macro context without establishing a single cause for the selling. An intraday break also differs from a completed weekly close below the average.
#bitcoin #CryptoMarket
$BTC slipped below its 200-week simple moving average during trading on November 13, according to Cointelegraph.
This indicator averages 200 weekly closing prices, covering almost four years. It helps describe Bitcoin’s longer-term trend, but its historical importance does not make it a guaranteed floor.
The move followed a rise in US Treasury yields. Federal Reserve data showed higher 10-year and 30-year yields on November 12 versus the previous trading day. ECB reference rates also showed the dollar strengthening against the euro.
That provides macro context without establishing a single cause for the selling. An intraday break also differs from a completed weekly close below the average.
#bitcoin #CryptoMarket
