Cointime reports: Bitcoin has closed below its 50-week moving average after holding above it for seven consecutive weeks, Galaxy research head Alex Thorn said on November 9. Two prior instances, in 2011–2012 and 2019–2020, saw BTC reclaim the average at a bear-market bottom before closing back below it. In both cases, based on weekly closing prices, the market did not go on to post a lower low.
Bitcoin Closes Below 50-Week Moving Average After 7 Weeks Above
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