Why bitcoin at $80,806 slipped below its 50-day line after 66 days: what matters now

The bitcoin price stood at $80,806 on Saturday morning, a second consecutive day below its 50-day moving average. That average sits at $81,807 on our own calculation, a gap of $1,001 or 1.23 percent. Two things are therefore documented: the price has fallen through a moving average it had held for 66 days, and it remains 10.84 percent above its 200-day average. Our assessment follows further down: the break is a level that trading programmes orient themselves by, not a verdict on the trend.

For Bitcoin this is the first extended spell below that line since late summer. On October 23 the price closed at $81,328, which was $459 below the 50-day average of $81,787 at the time. By Saturday morning the gap had more than doubled, to $1,001. Within 24 hours the price moved between $80,455 and $81,939, a decline of 0.97 percent. Over the week the loss stands at 0.64 percent. The price data come from CoinGecko.

The 50-day average at $81,807 and the first break in 66 days

A 50-day moving average is the mean of the last 50 daily closing prices. The average smooths out the swings of individual days and shows where the medium-term centre of ...