Crypto market prepares to storm the trend line
Market picture
The crypto market is losing slightly early Tuesday afternoon, cutting the gains of the past seven days to 4.4%. Acting on classic market trends, selling pressure intensified on the approach to the 200-day moving average near $2.90 trillion. A dip under that curve intensified selling in early March, but the market has generally held near that line and is now storming it.
Success could whet the appetite of doubters, validating the continuation of the cryptocurrency bull market.
Bitcoin started the week with a solid move above its 200-day average, peaking just below $89K on Monday. However, it failed to overcome the next milestone—the 50-day average.
At this stage, the recovery may be helped by the…
