Bitcoin (BTC) at Risk? Break Below 100-Week MA Signals Trouble
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Bitcoin (BTC) is currently priced at $86,700 with a trading volume of $35 billion. It experienced a local low of $80,500 on November 21 and has fluctuated between $84,000 and $90,000 for the past month, showing a 1% decline in the last day and nearly 4% weekly. It is approaching a significant long-term support level that has historically preceded major corrections.
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Bitcoin (BTC) is trading near a key long-term level as it heads into the final days of the year. The asset has shown a small recovery early in the week, but it remains close to a major technical support that has triggered large corrections in past cycles.
At press time, Bitcoin is priced at around $86,700 with a 24-hour trading volume of $35 billion. The asset is down by 1% over the last day and almost 4% weekly. It reached a local low of $80,500 on November 21 and has been trading between $84,000 and $90,000 for over a month.
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