Here's why Bitcoin price crash below the 200-day MA could kick-start a bear market
|- Bitcoin price broke below the 200-day moving average after the recent sell-off.
- Historical data shows that losing this support level has led to steep corrections in previous bull markets.
- Despite the bearish outlook, BTC may be primed to rebound before making lower lows.
Bitcoin price could have hit a market top on April 14 when it made an all-time high of nearly $65,000. Even though there is potential for a rebound, the upswing might be short-lived.
Bitcoin price loses crucial support level
In the following video, FXStreet's analysts evaluate where Bitcoin price could be heading next after losing the 200-day moving average as support.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.