Material Indicators: Bitcoin’s 50-day moving average of $94,650 is still an effective support level
Keith Alan, co-founder of Material Indicators, pointed out that the Bitcoin price is currently stuck between the 21-day simple moving average (SMA) and the 50-day SMA. The two averages are around $99,600 and $94,650 respectively. Bitcoin has been using the 21-day SMA as support since mid-October before falling below it this week, while the 50-day SMA support remains effective. (Cointelegraph)
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