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🔥Bitcoin tests the 100-day SMA resistance for the third time in six months, and if it fails or drops to $59,800
Analyst Alicharts points out that Bitcoin is currently testing the 100-day simple moving average (SMA) resistance level, marking the third test in six months. The previous two tests failed: after a failed breakout in October last year, the price dropped from $116,000 to $80,000; after a failure in January, it fell from $97,000 to $59,800. If a third rejection occurs, it could form a triple top, pushing the price back to the annual low of $59,800; if it breaks through and closes above the 100-day SMA, it may open a path to $80,000–$84,000. Additionally, according to Hyperinsight monitoring, an address starting with 0x965 opened a $12.6 million Bitcoin position with 40x leverage…
#btc