Will support hold for Bitcoin?

Bitcoin’s decline is being held-up by its 200-day moving average, according to Ron William and Robin Griffiths, strategists at RW Advisory.

William and Griffiths point out that the c. 70% crash in Bitcoin from its December 2017 peak is being held-up by long-term support at its 200-day moving average, currently near 6540 (see Chart). They say only a sustained move above the prior interim high of 12126 will revive the trend higher.

See Chart.

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