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Joe Consorti: Bitcoin approaches 200-day moving average with strong weekend rally
Joe Consorti, industry influencer, highlights that Bitcoin is now just $100 away from its 200-day moving average as it rallies into Sunday evening.
Consorti adds that reclaiming $83,000 would push Bitcoin back above both the 200-day moving average and the ETF average cost basis. He suggests that surpassing this level could set the stage for a move toward $93,000.
Earlier this month, Consorti reported that Bitcoin had climbed 20 percent over a month to reach a new high of $80,000, its highest price since January (link). Consorti has also covered recent turbulence in fixed income markets during a period of leadership change at the Federal Reserve (link). These developments have accompanied sharp attention to key technical and macroeconomic levels for Bitcoin.
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