BTC/USD order book data for Binance. Source: Material Indicators/X
While describing the current status quo as “not all that bad,” meanwhile, popular trader and analyst Daan Crypto Trades highlighted two key levels, which could determine a new BTC price trend. These came in the form of the 200-week moving average at $28,000 and a horizontal support zone around $25,000.
“Until then we'd likely be seeing low timeframe choppy price action,” he predicted to X subscribers on the day.1. Weekly 200MA is broken.Until then we'd likely be seeing low timeframe choppy price action.
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