An analyst has explained how a moving average (MA) that has historically served as the boundary for bear markets is situated at this level.
Bitcoin 50-Week MA Is Currently At $75,195
In a new post on X, analyst James Van Straten has shared a couple of important MAs related to Bitcoin. An “MA” is a technical analysis (TA) tool that calculates the average value of any given quantity and as its name implies, it moves in time along with the quantity and updates its value accordingly.
MAs can be taken over any window of time, whether that be just 10 minutes or 10 years. The main use of this indicator is for studying long-term trends, as it helps filter out any short-term deviations in the chart.
Here is the chart shared by the analyst, that shows the trend in the 50-week and 200-day MAs of the Bitcoin price over the past year:
As is visible in the above graph, the Bitcoin price has dropped below the 200-day MA after the recent market downturn, meaning that the asset’s va
We współpracy z: https://www.newsbtc.com/bitcoin-news/bitcoin-bear-market-level-analyst-reveals/
