Bitcoin has closed below its 50-week moving average for the third consecutive week. While currently bouncing off the 100-week exponential moving average at $85,000, a break below this level would likely lead to a drop to $82,000.
"On the weekly chart, we've had a third weekly close below the 50we moving average, which is many people have used as a benchmark for the bull market momentum uh and uh uh support. Uh and we we've today just bounced off of our currently on top of the 100week exponential moving average. Right. So this could be a support level at 85K. We're about we had about 86 now. 85k is at the support of the 100 week exponential moving average. Okay. But if we break below that support level um then the next stop is 82k."