#Bitcoin Breaks $85,000, Bullish Signals#
Hot Topic Overview
Overview
Recently, Bitcoin has broken through $85,000, sparking market speculation about the arrival of a bull market. Digital asset management company Matrixport has analyzed that Bitcoin, as a cyclical 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, it is necessary to be cautious. Historical data shows that this average has successfully captured major market trends many times, including the bull markets in 2020 and 2023, as well as the bear market phase in 2022. Currently, the 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 phase.
Ace Hot Topic Analysis
Analysis
Bitcoin's surge past $85,000 has sparked market attention towards bullish signals. Digital asset management firm Matrixport believes that Bitcoin, being a cyclical and trend-driven asset, can be analyzed using the 21-week moving average (approximately 147 days). When prices are above this average, it is considered favorable to hold a long position, while a cautious approach is needed when prices fall below it. Historical data shows that this average has successfully captured major market trends, including the bull markets in 2020 and 2023, as well as the bear market phase in 2022. Currently, this average sits around $85,000, and as long as Bitcoin remains above this level, the market can be considered in a bullish phase.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price above the 21-week moving average (about 147 days) can be considered a bullish signal.
The 21-week moving average has successfully captured major market trends, including bull and bear market phases.
Currently, the 21-week moving average is around $85,000. As long as Bitcoin price stays above this level, the market can be considered to be in a bullish phase.
Bitcoin, as a cyclical and trend-driven asset, can be judged by its movement through the 21-week moving average.