The 200 -week simple mobile average (200Wma) For Bitcoin
$ 50,000 is approaching, it is currently at approximately $ 49,223, according to Glassnode Data.
This is one of the few indicators in Bitcoin that has only increased over time. 200WMA has historically provided significant levels of support. During the 2015 Bear market, it offered support around $ 200. During the 2018 Bear market, it kept over $ 3,000. In the accident induced by COVID-19, 2020, the price fell briefly below 200WMA to around $ 5,300, although it finally fell as low as $ 3,000.
However, Bitcoin experienced a prolonged bearish market from June 2022 to October 2023, during which the price remained below 200WMA, which was approximately $ 25,000 for those 15 months.
Meanwhile, 200 -day simple mobile average (200dma)A technical indicator widely used to measure the transitions between the bull and bassist markets, is currently at $ 96,246, indicating that Bitcoin is in an upward market. The price fell below 200DMA between February and April, but remained above it during the recent correction to $ 98,000 amid the Iran conflict and the United States.
Historically, this average has proven to be a strong indicator of bull and bears market conditions. While Nasdaq 100 and S&P 500 are making new maximums of all time, this impulse can be constructive for Bitcoin to also achieve a break for the new maximums of all time.
