Bitcoin price just tagged 200-week trend line that defined 2022 bear market
Hex37's read
- Bitcoin's price has touched the 200-week trend line.
- This trend line acted as resistance during the 2022 bear market.
- BTC's RSI is nearing a six-year low.
What it means for traders
- A bounce from this key trend line could signal a short-term bullish reversal.
- The extremely low RSI suggests potential for a significant upward correction.
Affected markets
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