“After a breakout (BTC above ~$25,000), it’s important to pay attention to pullbacks to gauge the buy strength remaining,” bitcoin mining equipment and hosting provider Blockware Solutions Analysts wrote in a newsletter on Friday. “In this case, BTC flashed some pretty bullish signals, as buyers quickly stepped in at the 50-day [simple moving average].”
Bitcoin BTC Price Drops Below $28K as JPMorgan Takes Over Embattled First Republic Bank
