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Caleb Franzen: Bitcoin retests 21-day EMA after late-May rejection at $78k

Caleb Franzen: Bitcoin retests 21-day EMA after late-May rejection at $78k
Bitcoin retests 21-day EMA after $78k

Caleb Franzen highlights that Bitcoin is retesting its 21-day exponential moving average (EMA), marked in blue, for the first time since it faced rejection at the $78,000 level in late May.

This technical development may be significant for traders tracking short-term price movements.

Franzen previously noted that Bitcoin failed to break through its 200-day moving average cloud and remained in a downtrend. He has also observed underperformance in financial sector stocks compared to the S&P 500, describing a downtrend for financial equities. These observations provide further context for his latest technical focus on Bitcoin’s short-term averages.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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