Short term technical headwinds for Bitcoin heading into FOMC

Bitcoin is currently trading below key technical pricing models

This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.

Quick Take

  • Currently, Bitcoin is trading around $26,000, but there are a few short-term resistance levels that it is currently facing.
  • The short-term cost holder basis is around $26,400, the average cost basis of investors who hold Bitcoin for 155 days or less.
  • Bitcoin is also trading below the 111-day moving average and 200-week moving average.
  • The 11DMA is currently trading around $26,844, while the 200WMA is trading around $26,424, which has been used as support levels for Bitcoin in previous bear markets.
STH RP: (Source: Glassnode)
STH RP: (Source: Glassnode)
Pricing: (Source: Glassnode)
Pricing: (Source: Glassnode)