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Bitcoin price retests key $22.8K as metric points to 'BTC buying spree'

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cointelegraph.com

Bitcoin (BTC) returned to base on Aug. 4 as higher levels gave way to a battle for the 200-week moving average (MA).Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support.The day’s Wall Street open provided only a brief change in the mood, with the pair spiking above $23,000 before continuing previous behavior.

The atmosphere was unchanged by news that investment giant BlackRock had partnered with major exchange Coinbase to provide crypto trading to clients.Instead, the familiar status quo involving the 200-week MA just above $22,800 entered another chapter, with bulls and bears still tussling for control.

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