Cryptocurrency experts are advising traders to remain vigilant and potentially reduce their long positions if Bitcoin (CRYPTO: BTC) trades below a critical support level amid conflicting signals in the broader economic landscape.
What Happened: According to the latest 10x Research report, the crucial level to watch is the 21-week moving average, currently sitting at $60,918.
This price point coincides with a minor support level of $60,600, which previously acted as resistance in August and September.
“While the buy-and-hold strategy has historically been effective for U.S. stock indices and Bitcoin, there’s no guarantee it will remain so,” caution analysts at 10x.
This comes in light of conflicting market data, where faster-moving trends sometimes paint a different picture from slower macroeconomic indicators.
Bitcoin’s recent …
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