Bitcoin will now decide whether or not to preserve the one-year trendline as support in what has historically resulted in long-term upside.
Bitcoin (BTC) prepared a showdown with a key moving average (MA) price trend on Dec. 19 with time running out for a strong 2021 close.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView”I vote we bounce and stay bull”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at $47,000 Sunday, still firmly in an established range.That price is currently the location of Bitcoin’s one-year MA trendline, an important historical line in the sand that has enabled considerable upside if BTC/USD preserves it as support.”The 1yr MA is a pretty important bitcoin bull/bear pivot level historically and we are sat right on it now,” Philip Swift, creator of on-chain data resource Look Into Bitcoin, commented. „I vote we bounce and stay bull.”BTC/USD 1-week candle chart (Bitst
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