Bitcoin has now closed for a third week below the 100w MA.
It's now been under this long-term trendline for 13 days.
Historically, BTC has remained below this for on average 267 days.
The shortest was 34 days during the Covid flash crash.
Therefore, historically, we are more likely to remain below for a longer period of time.
A quick bounce back is still possible, but the longer we remain below, the less likely.
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