XBTUSD: Bitcoin and the 50-day Moving Average

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XBTUSD: Bitcoin and the 50-day Moving Average

With news this morning about FBI testimony before Congress saying Bitcoin and crypto make it harder to fight crime, the 50-day moving average in XBTUSD near 8625 becomes a critical inflection point.

If bulls show up to buy the dip, then Bitcoin ( BTC ) may weather the storm. The biggest reason for Bitcoin weathering the storm is that government agencies have software tools from companies like Chainalysis that make it EASIER to follow money trails. The money movements are all recorded on the blockchain for anybody with the right tools can see.

Bottom Line: This could be a great buying opportunity in Bitcoin ( BTC ). If it isn't, then you have to stop out and wait for another chance.



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