Traders say Bitcoin still due for ‘next leg lower’ targeting $46K BTC price
BTC price action looked weaker after Sunday’s weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels.
Bitcoin’s (BTC) failure to close the week above the 200-week exponential moving average (EMA) on Sunday put it at risk of another downward leg over the coming weeks or months.
Key takeaways:
Bitcoin price signals “structural weakness” with failure to close week above a key trend line.