Material Indicators: The 50-day moving average of Bitcoin at $94,650 remains a valid support level

ChainCatcher news, Material Indicators co-founder Keith Alan pointed out that the Bitcoin price is currently stuck between the 21-day and 50-day simple moving averages (SMA).

The two moving averages are around $99,600 and $94,650, respectively. Before breaking below the 21-day moving average this week, Bitcoin had been using it as support since mid-October, while the 50-day moving average support remains intact.