Matrixport: Bitcoin's 21-week moving average is currently at $85,000; staying above this level will sustain the bull market.
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Matrixport: Bitcoin's 21-week moving average is currently at $85,000; staying above this level will sustain the bull market.
Matrixport released a chart today showing that Bitcoin's 21-week moving average (approximately 147 days) is currently at $85,000, serving as a key indicator for gauging market trends. Holding long positions is advisable when the price is above the 21-week moving average (approximately 147 days), while caution is warranted when it falls below this level. Although Bitcoin’s price may experience short-term fluctuations near the moving average, the 21-week moving average has successfully captured major market trends on multiple occasions. It accurately signaled the bull markets in 2020 and 2023, as well as the bear market in 2022.
Navigating Web3 tides with focused insightsTechFlow news — On January 15, Matrixport released a chart showing that Bitcoin's 21-week moving average (approximately 147 days) is currently at $85,000, serving as a key indicator for gauging market trends. Holding long positions is advisable when the price trades above this 21-week moving average; caution is warranted when the price falls below it.
Although Bitcoin’s price may fluctuate near this moving average in the short term, the 21-week moving average has successfully captured major market trends multiple times in the past. It accurately signaled the bull markets of 2020 and 2023, as well as the bear market trend in 2022. Currently, this moving average stands around $85,000. As long as the price remains above the 21-week moving average, the market will continue to stay within a bull cycle.
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