Bitcoin

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<ul class="news-points"> 
 <li><strong>For only the third time in its history, BTC broke below the weekly and daily 200-day SMA lines.</strong></li> 
 <li><strong>Additionally, BTC’s 9-day EMA line crossed below the 50-day EMA line over the past week.</strong></li> 
 <li><strong>The price of BTC was able to climb by 0.07% over the past 24 hours, which left it trading hands at $26,057.71.</strong></li> 
</ul> 
<p>For only the third time in the history of <a href="https://coinedition.com/tag/bitcoin-btc-news/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a>, a significant event has occurred as it broke below both the weekly and daily 200-day Simple Moving Averages (SMA), according to a tweet shared by cryptocurrency analyst Miles Deutsher yesterday. It is also the first time this has happened since the LUNA/3AC collapse.</p> 
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   <p lang="en" dir="ltr">This is the first time since the LUNA/3AC collapse that <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> has broken below both the weekly + daily 200-day SMA.<br><br>And only the 3rd time in <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>'s history.<br><br>Last time, it was fuelled by an unprecedented liquidation cascade. This time, it only took a general market sell-off. <a href="https://t.co/TqObcoiOBo" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/TqObcoiOBo</a></p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1694074250704077270?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 22, 2023</a> 
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<p>It is worth taking note that in this instance, unlike the previous occurrence which was driven by an unprecedented liquidation cascade, the breach was brought about by a more generalized market-w…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/btc-breaks-below-key-moving-averages-amid-market-turmoil/">BTC Breaks Below Key Moving Averages Amid Market Turmoil</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

BTC Breaks Below Key Moving Averages Amid Market Turmoil

Coin Edition

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