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TechFlow reports, on-chain analyst Ali pointed out on a social platform that according to Glassnode data, Bitcoin has recently broken below the 200-day simple moving average (SMA). He analyzed that during an uptrend, such a break below this key technical indicator could suggest a buying opportunity. However, if Bitcoin remains below this level for an extended period, it may signal the beginning of a bear market.
On-chain analyst Ali posted on a social platform pointing out that, according to Glassnode data, Bitcoin has recently fallen below the 200-day Simple Moving Average (SMA). He analyzed that during an uptrend, a drop below this key technical indicator could suggest a buying opportunity. However, if Bitcoin remains below this level for an extended period, it may signal the beginning of a bear market.
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