"Bitcoin to change trend if 200-day SMA support holds"

Bitcoin has continued to decline despite October's traditional bullish flow, seeking direction around major moving average ranges.

On the 21st (local time), CoinDesk reported that Bitcoin is currently trading between 107,846 dollars (200-day simple moving average SMA) and 100,367 dollars (365-day SMA). This range is a 'compression zone' where prices have lingered for long periods in the past, and it is considered a key indicator for market trend changes.

The 200-day line is generally used as a dividing line between bull and bear markets, and Bitcoin has largely maintained this area as support since the 2023 rally. However, in the summers of 2023 and 2024, and in April this year, it briefly dipped below this support. The 365-day line serves as a supplementary indicator representing the medium- to long-term trend, providing support whenever the 200-day line was breached.

According to Checkonchain data, the average purchase price of investors in 2025 is around 103,509 dollars, which could act as a short-term price floor. The psychological support level of 100,000 dollars is also cited as a key zone that divides investor sentiment.

Conversely, a short-term resistance level to watch is 112,100 dollars, the average purchase price of coins traded over the past six months. Historically, Bitcoin has often resumed bull markets after breaking through this zone.

Bitcoin has fallen about 5% this year and is trading below 108,000 dollars. Analysts said, "Recovery of the 200-day line is the key to a short-term rebound, and if it fails to break above it, a prolonged box range is likely to continue."