Bitcoin experienced an unanticipated decline from the $29K mark, leading to a substantial breakdown of the pivotal 100-day and 200-day moving averages.
After plummeting from the $29K threshold, Bitcoin’s price dropped below the critical 100-day and 200-day moving averages, finding support amid the significant $25K level, where a bounce was initiated.
However, this initial rebound was followed by a retracement to retest the 200-day moving average, leading to another impulsive downward movement that once again reached the crucial support zone at $25K.
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