Bitcoin price faces key moving average showdown 3 weeks after breakout
The 200-day moving average is coming back to haunt BTC bulls after staying as resistance for over a year. Bitcoin (BTC) saw no relief at the Feb. 10 Wall Street open as United States equities dipped further. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView "All eyes" on 200-day moving averages Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it tracked sideways following a volatile 24 hours’ trading. Existing market weakness was compounded by an announcement from U.S. regulators concerning Ethereum (ETH) staking, with major crypto exchange Kraken forced to suspend its staking operations and pay a $30 million fine. Bitcoin fell to three-week lows as a result, with traders eyeing potential retests of $20,000 and even $19,000 to come. On the day, stocks offered little by way of comfort to risk asset traders, with the S&P 500 opening down to cross a significant line in the sand left over from late last year. S&P 500 $SPX gaps below 4,080...