Simple moving average for 200 weeks (200WMA) For Bitcoin
According to GlassNode data, it is currently close to $50,000, and currently it is about $49,223.
This is one of the very few indicators in Bitcoin, increasing over time. The 200WMA historically provides significant levels of support. In the 2015 bear market, it provided about $200 in support. During the 2018 bear market, it held a selling price of over $3,000. In the COVID-19-induced crash in March 2020, the price briefly dropped to around $200wma to around $5,300, although it eventually fell by $3,000.
However, Bitcoin experienced a long bear market from June 2022 to October 2023, during which time the price remained below 200wma, which was about $25,000 in the past 15 months.
Meanwhile, 200-day simple moving average (200DMA)This is a widely used technical indicator to measure the transition between a bull and a bear market, and is currently $96,246, indicating that Bitcoin is in a bull market. Prices were below 200DMA between February and April, but during the latest correction period, the price remained above $98,000. Iran and the United States clash.
Historically, this average has proven to be a powerful indicator of bull and bear market conditions. While the Nasdaq 100 and S&P 500 are creating new all-time highs, The motivation can be constructive In order to make Bitcoin reach a new all-time high.
