Bitcoin Trades Below 50-Week Average, Signaling Potential Price Pullback

The Bitcoin price has slowed after a strong start this year, trading below its 50-week Simple Moving Average (SMA) for the past nine weeks. This indicator suggests potential future corrections.

Caution Among Investors

  • Bitcoin continues to trade beneath the 50-week SMA, a key technical indicator.
  • This trend indicates weakening upside momentum and possible major corrections.
  • Historical data shows similar patterns have led to pullbacks of 50%-70%.
  • These corrections are often reset phases before long-term uptrends continue.

Bitcoin price

Concerns arise as current setups mirror past cycles that preceded significant pullbacks, possibly dropping Bitcoin to $50,000 if history repeats.

Bitcoin Price Outlook

  • For a positive shift, Bitcoin needs to surpass and hold above the 50-week SMA.
  • Current Bitcoin price is approximately $90,352, with no recent movement.

Bitcoin price