$BTC $BTC

The leading cryptocurrency by market value fell nearly 10% in the seven days to Nov. 16, printing a big red candle that closed well below the 50-week simple moving average (SMA), according to data source TradingView.

The breakdown represents an invalidation of a major demand zone and a transition away from an entrenched bullish pattern toward increased caution and potential extended sell-off. Traders may reconsider their assumptions and shift tactics to sell the bounce/rip rather than buy the dip.

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