#Bitcoin Bullish Signals Emerge#
Hot Topic Overview
Overview
Recently, digital currency analytics firm Matrixport has pointed out that if the price of Bitcoin can sustain above $85,000, it can be considered a bull market signal. The firm believes that Bitcoin, as a cyclical asset, can be judged by its 21-week moving average (about 147 days). Historical data shows that this moving average has successfully captured major market trends, including the bull markets in 2020 and 2023, and the bear market phase in 2022. Currently, Bitcoin's 21-week moving average is around $85,000, and once the price breaks through this level, it will mean the market has entered a bull market phase.
Ace Hot Topic Analysis
Analysis
Digital asset management company Matrixport analyzes that Bitcoin, as an asset with clear cyclical and trend-driven characteristics, can be judged through its 21-week moving average (approximately 147 days). When the Bitcoin 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 many 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 the Bitcoin price stays above this level, the market can be considered to be in a bull market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin price above the 21-week moving average (about 147 days) is suitable for holding a long position, and 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.
Historical data shows that the 21-week moving average has successfully captured major market trends many times, including the bull market 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.