Bitcoin collapses to $67,700 and retests 200-week SMA: Is this the bottom?

The Bitcoin price collapsed around $6,300 on Thursday and into Friday - a total of around 8.5%. The price hit a low of $67,640 earlier on Friday, retesting the hugely important 200-week simple moving average (SMA) as it did so. Is this now the bottom for Bitcoin, or could there be one more flush-out to the bull market support trendline at $65,750? A rapid collapse - can bulls get back above $69K and hold it as support Source: TradingView So the support did break , and the $BTC price has spilled down under $70K for the first time since August. As was expected, this was a fairly rapid collapse .

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