Analyst: Bitcoin’s Price Must Break 200-Day Moving Average for Rally to Continue

Bitcoin’s price rally has stalled, coming off a major push upwards from the temporary dip that occurred late last week. Bitcoin’s current price, although relatively stable at $6,550, must break the 200-day moving average of approximately $7,200 in order to continue its upward trend, according to one analyst.
Nick Cawley, a markets analyst at Daily FX wrote about Bitcoin’s current price action and the need for it to break the moving average, saying:
“This price action