First Mover Americas: BTC Warnings Finger Drop to $55K

Jamie Crawley is a CoinDesk news reporter based in London.

That's near its 50-day moving average, which remains a tactical support line for traders. “If the decline develops, dynamics around the $63K and $61K levels, near where the 50 and 200-day moving averages are, will be important,” Alex Kuptsikevich, an FxPro senior market analyst, told CoinDesk in an email. “A failure of this support will open the way to $55K, which is quite frightening.” August has been a losing month for BTC eight times and a winning one five times, he added.

Leading indicators trend lower as the other two rise, indicating economic weakness and a potential recessionary phase ahead.Source: MacroMicro

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