Correction in stocks can be based on a key technical indicator and can be good news for Bitcoin (BTC), which has also damaged similar resistance.
Early 1.7% on Monday to keep up with the acquisitions last week, S&P 500 moved above it 200-day moving average (200 dma), after correction of 10% in recent months. This 200 DMA has been calculated by obtaining the mean closing of prices in the past 200 days of trading and are often used to assess greater market trends and potential reference points.
The S&P 500 last crossed that gauge on March 10, and – even refused a little shortly – continued an uprising that continued today.
Bitcoin (BTC) has moved to step, now trading above $ 88,000 after deciding to break its own 200 DMA of $ 85,046 over the weekend. The next major resistance level is at $ 93,245, which corresponds to the short-lived holder realized-that is, the average cost of obtaining coins held outside of reserves to exchange and moved within the last 155 days. These coins are considered most likely to be spent at any time.
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