#Bitcoin $85,000 is now a bullish signal.#
Hot Topic Overview
Overview
Recently, digital currency analytics firm Matrixport pointed out that Bitcoin's price breaking above the 21-week moving average of $85,000 can be considered a bullish signal. The firm believes that Bitcoin, as a cyclical and trend-driven asset, can be gauged by the 21-week moving average (approximately 147 days). 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, as long as Bitcoin's price remains above $85,000, the market can be considered to be in a bull market phase.
Ace Hot Topic Analysis
Analysis
Matrixport, a digital asset management platform, analyzes that Bitcoin, as a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). When the Bitcoin price is above this moving average, it is suitable to hold long positions; when the price is below the moving average, caution is needed. Historical data shows that this moving average has successfully captured major market trends multiple times, including the bull markets of 2020 and 2023, as well as the bear market phase of 2022. Currently, this 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. This means that if Bitcoin can continue to break through and stabilize above $85,000, it will be a strong bullish signal, indicating that market confidence is recovering and a new upward trend may be on the horizon.
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Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price above the 21-week moving average (approximately 147 days) can be considered a bullish signal.
The 21-week moving average is an important indicator for judging the trend of the Bitcoin market.
Historical data shows that the 21-week moving average has successfully captured major market trends multiple times.
The current 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 bull market.