Bitcoin's Weekly Close Below 200-Week EMA Signals Potential Trend Shift

Bitcoin (BTC) has closed a weekly candle below its 200-period exponential moving average (EMA) for the first time since October 2023, marking the end of a technical uptrend that persisted for 882 days. According to Cointelegraph, this shift in trend has renewed attention on Bitcoin's onchain cost-basis levels and its historical interactions with this key moving average across previous cycles, suggesting a broader recovery timeline based on past market behavior. The 200-week EMA is a critical indicator of Bitcoin's long-term trend, historically distinguishing expansion phases from deeper corrective periods. On the weekly chart, BTC closed below the average near $67,628, ending a support streak that began in late 2023 source: https://www.binance.com/en/square/post/294851472372226?utm_source=BinanceNewsRSS