Bitcoin is approaching its support level of criticism.

Critical 100-Week Moving Average in Bitcoin

Bitcoin is currently trading near the 100-week simple moving average, an important support level for bulls. This level holds vital significance for investors.

However, the strategy sharing prices have already fallen below this average. This situation signals a potential downtrend for Bitcoin. Bulls need to defend this critical support level. Otherwise, the risk of experiencing similar losses to those seen recently, like the strategy, increases.