Add as a preferred source on GoogleBitcoin Rebounds Above $75,000 Monday as Alan Flags Possible $67,755 Dip
Material Indicators co-founder Keith Alan pointed to Bitcoin’s 200-week simple moving average as a possible downside test and said the weekly view was starting to lean bullish.
Bitcoin (BTC) moved back above $75,000 Monday, Nov. 9, after touching about $73,500 Sunday.
BTC/USD traded between its 21-week simple moving average (SMA) at $73,078 and its 50-week SMA at $75,492.
Keith Alan, co-founder of crypto trading platform Material Indicators, flagged a possible dip toward the 200-week SMA at $67,755. He said market structure and thin order books left room for lower prices before a breakout could be confirmed. “That test is possible, not inevitable — and it doesn’t have to happen this week. In fact, the weekly view is starting to lean bullish,” Alan said.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.