#Bitcoin Bullish Signals Emerge#
Hot Topic Overview
Overview
Recently, cryptocurrency analytics platform Matrixport noted that if the Bitcoin price can consistently remain above the 21-week moving average of $85,000, it can be considered a bullish signal. The analytics platform believes that Bitcoin, as a cyclical and trend-driven asset, can be gauged by its 21-week moving average (approximately 147 days). Historical data shows that this average has successfully captured major market trends multiple times, including the bull markets of 2020 and 2023, as well as the bear market phase in 2022.
Ace Hot Topic Analysis
Analysis
Recently, digital currency analytics firm Matrixport released a report stating that the Bitcoin 21-week moving average (approximately 147 days) can serve as a key indicator for judging Bitcoin bull market signals. According to historical data, when Bitcoin prices are above this average, the market is typically in a bull market phase, suitable for holding long positions; while when prices are below this average, caution is required. Currently, this average is around $85,000. If Bitcoin prices can stably maintain above this level, it can be considered a bull market signal. Matrixport believes that Bitcoin, as a cyclical and trend-driven asset, its trend can be judged through the 21-week moving average. This indicator has successfully captured major market trends in the past, including the bull markets in 2020 and 2023, and the bear market phase in 2022.
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Classic Views
Bitcoin price above the 21-week moving average (approximately 147 days) can be seen as a bullish signal.
The 21-week moving average is an important indicator for judging the trend of the Bitcoin market.
Historical data shows that this average has successfully captured major market trends many times.
Currently, Bitcoin price is maintained above $85,000, and the market can be regarded as being in a bull market.