#Bitcoin above $85,000 is a bull signal.#
Hot Topic Overview
Overview
Recently, cryptocurrency analytics firm Matrixport released a report highlighting the 21-week moving average (approximately 147 days) as a crucial indicator for gauging market trends in Bitcoin. The firm believes that when Bitcoin's price is above the 21-week moving average, the market is in a bull phase, making it suitable for holding long positions. Conversely, investors should exercise caution when the price dips below the average. Historical data suggests that this moving average has successfully captured major market trends, including the 2020 and 2023 bull markets and the 2022 bear market. Currently, the moving average sits at around $85,000. As long as Bitcoin's price remains above this level, the market can be considered in a bull phase.
Ace Hot Topic Analysis
Analysis
Matrixport analysis suggests that Bitcoin, as a cyclical and trend-driven asset, can be judged by its 21-week moving average (approximately 147 days). When the price is above this moving average, it is suitable to hold a long position; when the price is below the moving average, caution should be exercised. Historical data shows that this moving average has successfully captured major market trends, including the bull market in 2020 and 2023, as well as the bear market in 2022. Currently, this moving average is 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 phase.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price is above the 21-week moving average (approximately 147 days), suitable for holding a long position, the market can be considered to be in a bull market.
Bitcoin price is below the 21-week moving average, you need to be cautious.
The 21-week moving average has successfully captured major market trends many times, including the bull markets in 2020 and 2023, and the bear market in 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.