Bitcoin Breaks Key Support, New Resistance Level Emerges
Update: 2025-11-17
Description
Bitcoins recent plunge below a key support level signals a potential shift in market trends, with traders now cautious about a longer-term sell-off. The cryptocurrencys fifty-week simple moving average, once a reliable floor, has now become a resistance point, potentially hindering any price increases. Meanwhile, MicroStrategys stock, which also fell below its fifty-week moving average, serves as a cautionary tale, suggesting Bitcoin could face a similar downward trend.
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