Bitcoin has broken through its 200-day moving average, with the next resistance level at around $28,800.

According to Fairlead Strategies data cited by CoinDesk on August 30th, Bitcoin has broken through its 200-day moving average. "The initial resistance level is at the 50-day moving average (around $28,800), and the secondary resistance level is near the weekly cloud line, close to $31,900." Note: the weekly cloud line is related to Ichimoku Kinko Hyo, which includes five main lines and a "cloud" (Kumo). The cloud is composed of an area between two moving average lines, which are calculated based on the high and low points over a period of time. The upper and lower parts of the cloud can be used as support and resistance areas.