Crypto analyst Ash Crypto said Bitcoin has run into resistance near its 50-week moving average, putting the market’s next support levels under close watch. According to his post, if BTC closes the week below that line, the next support sits at $75,500. If that level also breaks, attention would shift to the 200-week moving average, which he said is currently around $65,000.
Ash Crypto added that Bitcoin would need to reclaim the 50-week moving average by the weekly close to confirm that $57,000 was the bottom and that a bull market had started. He also pointed to two earlier instances when Bitcoin was rejected around the same moving average, saying both were followed by sharp declines. The comments frame the 50-week moving average as the key level for traders watching Bitcoin’s next move.
Crypto analyst Ash Crypto said Bitcoin is facing resistance near its 50-week moving average.
In his view, if BTC closes the week below that level, the next support stands at $75,500. If price falls through that area as well, the 200-week moving average, currently around $65,000, becomes the next level to watch.
He said Bitcoin needs to move back above the 50-week moving average by the weekly close to confirm that $57,000 was the bottom and that a bull market has begun.
Ash Crypto also said that on the previous two occasions when Bitcoin was rejected near this moving average, sharp declines followed.
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