Bitcoin has been stopped dead at the 200 daily moving average

[insidiouschingers]

Bitcoin’s stark rejection from $8,820 does not appear to be ideal for bullish days ahead. The asset also was not quite able to reach the level from which it originally broke down. A stronger market might have seen bitcoin test that mark before facing such rejection. Additionally, Bitcoin failing to close today’s candle above the 200-day MA at $8,655 would be bearish, indicating another failed attempt to hold that significant level. Another close below the 200-day MA might signal future downside action.