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Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA

Published 07/22/2022, 04:28 PM
Updated 07/22/2022, 11:20 PM
Bitcoin dips to $22.6K, risking further losses if it fails to hold above 200-week MA
TWTR
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BTC/USD
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BTC/USD
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The mood across the cryptocurrency ecosystem is noticeably brighter on July 22 after a week of gains helped traders put the events of the past two months behind them and look toward a positive future.

Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has been oscillating around support at $23,000 over the past couple of days and continues to hold slightly above its 200-week moving average (MA), which has been a reliable indicator of bear market bottoms in the past.

BTC/USDT 1-day chart. Source: TradingView
BTC/USDT 1-hour chart. Source: Twitter (NYSE:TWTR)
BTC/USD 1-hour chart. Source: Twitter
BTC/USD 12-hour chart. Source: Twitter

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