BTC Faces Extended Slump as $68K Resistance Holds

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Crypto market analysts have become increasingly bearish, with technical signals favoring further downside before any meaningful recovery. 

More and more peak bear market signals are flashing up on the Bitcoin charts, leading analysts to believe that the pain is not over yet, but we may be nearing the bottom.

Bitcoin has now closed for a third week below the 100-week moving average and has been under this long-term trendline for 13 days, observed Coin Bureau CEO Nic Puckrin on Monday.

Historically, BTC has remained below this for an average of 267 days, with the shortest period at 34 days during the Covid flash crash in March 2020, he added, before predicting it could stay below this for longer.


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