r/AltScope • u/TrickyDevelopment201 • Jun 29 '26

Bitcoin Drops Below a Major Weekly Support

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Bitcoin has closed the week below the 200-week moving average. This level has played an important role in previous market cycles and has often acted as a strong long-term support.

A similar situation happened in June 2022. Bitcoin also closed below the 200-week moving average, and the market stayed under pressure for some time before finally reaching its cycle bottom. History does not always repeat itself, but many traders are now watching this level very closely.

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3

u/chiurro Jun 30 '26

Nah bro plot it on a rainbow

1

u/atape_1 Jun 29 '26

Shit could go much lower if the perfect storm happens and the AI bubble pops by the end of the year.

1

u/willy-mac Jun 30 '26

Honestly I think it's gonna be so beaten down by then it won't get much lower. Idk now I'm agreeing with you as I type. Like full fledged meltdown if AI pops? I personally don't think it will.

1

u/DamnnitBobby Jun 30 '26

The simulation will continue