Bitcoin Price Got Rejected At The 200-MA, Why Breaking $76,000 Could Be A Problem

Bitcoin’s latest price action has run into a technical wall, and crypto analyst Merlijn The Trader believes the rejection could become more serious if one nearby support level fails. Particularly, technical analysis shows that the price action looks uncomfortably close to a crash under $76,000. Bitcoin’s 200-Day Moving Average Has Become The First Major Rejection Zone Bitcoin reached $82,400 on May 6 before stalling at the 200-day moving average, pulling back to as low as $74,000 during the most