Bitcoin returns to 200-week trend line as analyst sees risk of $57.7K next

Bitcoin price action interacted with its 200-week simple moving average for the first time since mid-August as it fell below $68,000.

Bitcoin (BTC) fell to $67,500 on Friday, slipping below its 200-week simple moving average on its first test of the level in nearly three months.

Key points:

TradingView data showed that Bitcoin last touched its 200-week simple moving average (SMA) on Aug. 19.

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