Bitcoin On Course Of Making History This Month, Here’s Why
After closing below the 200-weekly moving average for the first time since 2020, BTC looks likely to continue the Bitcoin price history. As of writing, Bitcoin is trading at $21,383, down 0.12% in the last 24 hours, according to price tracker CoinMarketCap.
The 200-Weekly Moving Average (WMA) is a key metric used by traders to gauge the overall sentiment around Bitcoin. Historically, whenever Bitcoin dropped below the 200-week WMA, BTC realized the bottom for that cycle. Immediately, it would regain positive price momentum.
If the current 200-Weekly Moving Average of $22,000 is breached this week, it would mean Bitcoin would make history. The end of June could witness for the first time ever that BTC closed a month below the 200-week WMA.
The 200-Weekly Moving Average (WMA) is a key metric used by traders to gauge the overall sentiment around Bitcoin. Historically, whenever Bitcoin dropped below the 200-week WMA, BTC realized the bottom for that cycle. Immediately, it would regain positive price momentum.
If the current 200-Weekly Moving Average of $22,000 is breached this week, it would mean Bitcoin would make history. The end of June could witness for the first time ever that BTC closed a month below the 200-week WMA.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.