Trader: BTC/USD falls below 200-day MA for the first time in 10 months

Well-known cryptocurrency trader Skew pointed out that the BTC/USD trading pair fell below the 200-day moving average (MA) for the first time in 10 months. He explained: "So far, the spot sell-off around $63,800 has been the main driver of this trend since the trend rejection & reversal. Therefore, in order for the HTF MA to truly become a systemic trigger for the market, we need to see market demand and reversal signs, otherwise volatility and momentum will accelerate downward." As of press time, the 200-day moving average is at $58,400, still slightly below the spot price after the low time frame rebound. (Cointelegraph)