#Bitcoin at $85,000 would be a bull signal#
Hot Topic Overview
Overview
Matrixport, a digital asset analysis firm, believes that Bitcoin, as a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). Historical data shows that this moving average has successfully captured major market trends on multiple occasions, including the bull markets of 2020 and 2023, as well as the bear market of 2022. Currently, the moving average sits around $85,000, and as long as Bitcoin's price remains above this level, the market can be considered to be in a bull market.
Ace Hot Topic Analysis
Analysis
Digital asset management firm Matrixport believes that Bitcoin's breakout above its 21-week moving average of $85,000 could be a signal of a bull market. Their analysis points out that Bitcoin, being a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). When the price is above this 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, and the bear market phase in 2022. Therefore, as long as the Bitcoin price remains above $85,000, the market can be considered to be in a bull market phase.
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Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price is above the 21-week moving average (approximately 147 days), which is suitable for holding long positions, indicating that the market is in a bull market.
The 21-week moving average is an important indicator for judging the trend of the Bitcoin market. Historical data shows that it has successfully captured the main trends of the market many times.
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.
When the Bitcoin price is below the 21-week moving average, it is necessary to be cautious, indicating that the market may be in a bear market.