Bitcoin still stuck under 400-day moving average
BTCUSDBitcoin has encountered strong resistance trying to break above the 400-day moving average (See Green histogram in chart) and just moving to the downside below $8000, as well as finding resistance on the median line of a longer-term bullish channel (see white dotted-line in chart). If the 400-day moving average isn't regain the previously bearish trend should resume with lower-lows, whereas a break above the 400-day line - which is hovering just over $8400 - would be very bullish. For now price action is in limbo with some bearish momentum developing as $8000 was lost. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.