Bitcoin was little changed during the European morning, sitting around $64,500 following a slump to $62,500 on Thursday. That’s near its 50-day moving average, which remains a tactical support line for traders. “If the decline develops, dynamics around the $63K and $61K levels, near where the 50 and 200-day moving averages are, will be important,” Alex Kuptsikevich, an FxPro senior market analyst, told CoinDesk in an email. “A failure of this support will open the way to $55K, which is quite frightening.” August has been a losing month for BTC eight times and a winning one five times, he added. “The average decline was 15.4% and the average rise was 26%.”
Comments (No)