Bitcoin (BTC) Looking to Retest the Crucial $8000 Price Level

Bitcoin (BTC) Looking to Retest the Crucial $8,000 Price Level ⋆ ZyCrypto

The Bitcoin bulls were strongly rejected from the 26-period EMA at $8,779 and the price dropped down below the 12-period EMA, currently trading at $8,341. This doesn’t necessarily mean Bitcoin has turned bearish again as the bulls are still holding a higher low on the daily chart, however, the loss of the 12-period EMA is significant.