Bitcoin Bulls Have A Crunch Weekly Close Ahead, Says Analysis

Bitcoin (BTC) battled a key 200-week trend line around Thursday’s Wall Street open as “bearish acceleration” fears persisted.

Key points:

• Bitcoin threatens to add the 200-week exponential moving average to its list of new resistance levels.

• History offers lessons for what happens when price rejects the key 200-week trend line.

• Mayer Multiple values continue to show BTC in deep “oversold” territory.

Bitcoin’s fate hangs on $68,300 reclaim

Data from TradingView showed BTC price action focusing on…