CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » BTC » Bitcoin Price Analysis: BTC Holding Critical MA200 Level, Is $50k Retest Incoming?

Bitcoin Price Analysis: BTC Holding Critical MA200 Level, Is $50k Retest Incoming?

Author: DanBTC916

Last Updated Sep 17, 2021 @ 15:36
Getting your audio player ready...

BTC’s near-term technicals continue to show strength as the price has reclaimed the 200-day moving average and $47.2k – a key level according to the UTXO Realized Price Distribution metric.

The bulls managed to push BTC back into the green zone, an essential level of support/resistance.

E_eMVHcVcAQ7Atc
Chart by TradingView

Given the near term technical momentum and strengthening trend in fundamentals and on-chain metrics, it’s looking more likely for $42.8k to be the bottom of the near term pullback. The strong hands holding older coins continue to accumulate, while the weaker hands with younger coins sold.

Selling Cooling Off

Most recently, the 3 to 6-month cohort responsible for most of the selling appears to be cooling off. This suggests that the group could be reaching capitulation. Keep in mind, a large portion of it accumulated between $50k to $64.8k, while some have added in the $30k area, when factoring in aging.

This is a positive signal as this group continues to age because the 3 to 6-month coins will start including the July to August time frame where BTC was consolidating in the low 30k range. The bulls need to see the cohort show signs of holding instead of selling as large amount of BTC has been accumulated by large entities between June to August, according to on-chain data.

There are external risks appearing in the market such as the Evergrande debt crisis with over $300B in debt at risk. Investors must be aware of this developing issue and how it could impact global sentiment on risk assets as some fear this could be another Lehman moment from the financial crisis.

Despite the near-term risk, the overall trend in fundamentals, technicals, and on-chain remains bullish. This suggests BTC could be on the way to retesting $50k sometime next week if the momentum continues. Bulls need to protect $47.2k near term, and continue pushing higher into the green zone.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!


Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
Tags: Bitcoin (BTC) Price
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

DanBTC916
More posts by this author

Dan is a cryptocurrency Onchain/Technical analyst at a Crypto Fund with 11 years of experience in equity markets and over 4 years in crypto markets. Dan’s background and deep understanding of Finance and Economics have sparked a deep passion for the cryptocurrency markets, especially in Bitcoin. Follow Dan on Twitter

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

12 Best Meme Coins to Watch in July 2025

12 Best Meme Coins to Watch in July 2025

7 Best Meme Coin Presales to Watch in July 2025

7 Best Meme Coin Presales to Watch in July 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

10 Best Crypto Presales to Consider in July 2025

10 Best Crypto Presales to Consider in July 2025

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!