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$40,000 in play for Bitcoin if it slides below key technical level
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livemint.comBitcoin seesawed between gains and losses Thursday as it tested a key technical level that over the past two years has tended to act as a floor for the world’s largest cryptocurrency.
The digital asset rose as much as 1.1% and was trading around $47,350 as of 9:05 a.m. in New York. It’s down more than 15% this month amid a broader retreat in the crypto sector.
Bitcoin’s drop has taken the token to its 55-week moving average, a level it effectively held after a December flash crash and during the mid-year embers of a crypto rout. The technical study suggests a decisive break below the average would put a slide to $40,000 in play.
Katie Stockton, founder and managing partner of Fairlead Strategies, an independent research firm focused on
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