BlockBeats News, August 20th, Cryptocurrency analyst @honey_xbt tweeted that Bitcoin is about to face a key resistance level at the daily 200-day EMA moving average. Previously, Bitcoin was suppressed by this moving average and fell back when it reached $82,000.

@honey_xbt believes that if Bitcoin falls under pressure this time, it may usher in the final stage of a downtrend, dropping below $50,000.