Bitcoin prices are currently in full retreat after a weekend high of $42,628 on Sunday. Markets are seeing red during the morning’s Asian trading session and BTC was down 5% at $39,726 according to CoinGecko at the time of writing. Tradingview still has the asset above $40K on Binance.
The short-term pullback has been expected and longer-term metrics are still in bullish territory. Crypto YouTuber and industry analyst Lark Davis observed that BTC has closed its weekly candle above the 21-week exponential moving average.
“Bitcoin just closed the weekly candle above a line of key resistance, and above the 21 week EMA!”
Bitcoin weekly close – Tradingview/Lark Davis
For shorter-term moving averages such as the 50 day and 200 day, BTC is right in the middle of the two. The 50 day EMA has now turned upwards while the 200 day is a little higher at $45K.
Stock-to-Flow “Like Clockwork”
The popular stock-to-flow model is still on track according to its creator, “PlanB”, who poste
Źródło: https://cryptopotato.com/bitcoin-posts-bullish-weekly-close-stock-to-flow-like-clockwork/
