Bitcoin Price Action Flashing ‘Pretty Bleak Signs,’ Says Analyst Nicholas Merten – Here’s What He Means

08/22 12:51

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Bitcoin is showing signs of weakness, according to cryptocurrency analyst Nicholas Merten. The digital asset is struggling to overcome resistance levels and has fallen below the 200-day moving average, indicating a bearish phase. Merten believes that unless Bitcoin can surpass its prior highs and establish a new base, it may not be a new bull market. At the time of writing, Bitcoin is trading at $59,381.

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