#Bitcoin at $85,000 Could Be a Bullish Signal#
Hot Topic Overview
Overview
Recently, crypto analysis firm Matrixport released a report stating that the 21-week moving average (around 147 days) for Bitcoin can be used as an indicator for bull market signals. Based on historical data, when Bitcoin prices are above this average, they are typically in a bull market phase, while caution should be exercised otherwise. Currently, the average is at $85,000, meaning that as long as Bitcoin prices remain above this level, the market can be considered in a bull market phase.
Ace Hot Topic Analysis
Analysis
Recently, digital currency analytics firm Matrixport released a report stating that Bitcoin's 21-week moving average (approximately 147 days) can serve as an indicator for judging bull and bear markets. The firm believes that when Bitcoin's price is above the 21-week moving average, it is suitable to hold a long position; when the price is below the average, caution should be exercised. Historical data shows that this moving average has successfully captured major market trends multiple times, including the bull markets in 2020 and 2023, as well as the bear market phase in 2022. Currently, the moving average is around $85,000. As long as Bitcoin's price stays above this level, the market can be considered to be in a bull market phase. This means that if Bitcoin's price can break through and stabilize above $85,000, it will be considered a strong bull signal, indicating that the market is entering a new upward cycle.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price above the 21-week moving average (approximately 147 days) is suitable for holding longs, and the market can be considered to be in a bull market.
Bitcoin price below the 21-week moving average should be cautious.
The 21-week moving average has successfully captured major market trends multiple times, including the bull markets of 2020 and 2023, and the bear market of 2022.
The current 21-week moving average is around $85,000. As long as the Bitcoin price remains above this level, the market can be considered to be in a bull market.