Bitcoin is looking to repeat the scenario of 2017 and 2021
"Plan B" recently shared on X, highlighting how the price of Bitcoin has historically quadrupled whenever it exceeded the 200-week moving average (200 MA). This indicator is widely used as a technical analysis tool to determine long-term trends in cryptocurrencies.
Usually, a rise in Bitcoin above the 200-week moving average indicates the potential for price growth and reflects that the bullish market is still ongoing. Conversely, a drop below this average may indicate that the long-term bullish trend has not been confirmed yet.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Bitcoin is looking to repeat the scenario of 2017 and 2021
"Plan B" recently shared on X, highlighting how the price of Bitcoin has historically quadrupled whenever it exceeded the 200-week moving average (200 MA). This indicator is widely used as a technical analysis tool to determine long-term trends in cryptocurrencies.
Usually, a rise in Bitcoin above the 200-week moving average indicates the potential for price growth and reflects that the bullish market is still ongoing. Conversely, a drop below this average may indicate that the long-term bullish trend has not been confirmed yet.