“After a breakout (BTC above ~$25,000), it’s important to pay attention to pullbacks to gauge the buy strength remaining,” bitcoin mining equipment and hosting provider Blockware Solutions Analysts wrote in a newsletter on Friday. “In this case, BTC flashed some pretty bullish signals, as buyers quickly stepped in at the 50-day [simple moving average].”
Source: https://www.coindesk.com/markets/2023/05/01/bitcoin-drops-below-28k-jpmorgan-takes-over-embattled-first-republic-bank/?utm_medium=referral&utm_source=rss&utm_campaign=headlines