#BTC Indeed, the 200-week SMA is acting as unreliable resistance as well, because Bitcoin has Weekly Closed above the SMA Technically, that now means that this dip is a retest attempt to try reclaim the SMA back into support Again, the SMA will likely act as unreliable support and resistance in the short-term But the macro perspective suggests price will try to get as close as possible to the 50-Month EMA (~$66k) this July So for Bitcoin to be able to do that, the 200-week SMA will need to somehow briefly act as support at some point to facilitate that additional relief rally into the general ~$66k area before breaking down from the 200 SMA in August, for example BTC #Bitcoin(Rekt Capital)