Bitcoin (BTC) Tries to cross the 200-day Moving Average, Pay Attention.

[Coin_Gabbar]

The biggest cryptocurrency in the world, Bitcoin (BTC), is still displaying strength and has recently moved above the $22,200 mark, adding 3% in the past day.
Technically speaking, BTC is currently trading at a critical intersection with its 200-day moving average (MA).

BTC had previously had a severe rejection at these levels, which was followed by a significant correction. The previous time #Bitcoin touched the 200MA on the 12hr chart, according to well-known crypto analyst Ali Martinez, it led to a sharp correction. In anticipation of a pullback, the TD Sequential now displays a sell signal at the same level. To void the negative view, $BTC must print a 12hr candlestick close above $22,950.

Additionally, on-chain data for realised profit/loss for Bitcoin demonstrates that profit-taking occurs at every increase in price for Bitcoin. The current Realized profit/loss ratio for Bitcoin is below 1.0, indicating a significant bear cycle.

Some Bitcoin-Friendly Developments

After attempting to go below $20,000 last week, the price of bitcoin was able to quickly recover and is currently maintaining $20K as a reliable support level. mentioning the quantity of live addresses. Analyst Ali Martinez agrees that the bottom of the Bitcoin market might be in.

Additionally, there are now close to 100,000 BTC addresses having at least one or more Bitcoins. This demonstrates how retail players keep accumulating.
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[Osama Sultan]

Once again btc dumps from the resistance of 22k level and as we know the support of Bitcoin is the support of all the crypto markets and the support is at 19K used and I advise to buy 50% of your portfolio in bitcoin at this support . And if the price faces another fall buy some top alts at 17500usd and enjoy the profits .