This Bitcoin price level will be 'end of the bears' if broken, says analyst

Bitcoin’s rejection at the 200-day EMA mirrors past 25% and 36% BTC sell-offs, fueling fears of another drop toward $60,000.

Bitcoin (BTC) has climbed roughly 40% from its February lows, bringing the price back to a critical resistance zone that could determine whether the bear market continues or finally ends.

Key takeaways:

As of Monday, BTC/USD was down 2.25% near $80,500, erasing its overnight gains as buyers once again failed to clear the 200-day exponential moving average (200-day EMA, blue line).

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