Bitcoin and other cryptocurrencies slipped Monday amid a risk-off move in wider markets, but digital assets remained above key levels with analysts bullish that a recent uptrend can continue.
“Technically, Bitcoin remains in an uptrend but ran into resistance at its 200-day moving average over the weekend,” said Alex Kuptsikevich, an analyst at broker FxPro. “All eyes will be on Bitcoin to see if it can successfully consolidate above $28,000, the 200-day moving average. If it does, we can expect a quick rise to $29,000 to $29,300.”
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