Traders say Bitcoin still due for ‘next leg lower’ targeting $46K BTC price

BTC price action looked weaker after Sunday’s weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels.

Bitcoin’s (BTC) failure to close the week above the 200-week exponential moving average (EMA) on Sunday put it at risk of another downward leg over the coming weeks or months.

Key takeaways:

Bitcoin price signals “structural weakness” with failure to close week above a key trend line.

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