Analysis says Bitcoin frequently tests 50 day moving average or shows signs of fatigue

Analysts point out that Bitcoin has recently approached its 50 day moving average multiple times, which may indicate a weakened upward momentum in the market. Alex Kuptsikevich, Chief Analyst of FxPro, stated that the sluggish market has led active traders to shift towards smaller projects, while the support of Bitcoin in peak areas indicates a temporary pause in the market to lock in profits.