Bitcoin (BTC) Reaches Historic Support at 200W MA - BitcoinEthereumNews.com
BitcoinBitcoin (BTC) erreicht historische Unterstützung bei 200 W MA06/14/2022Bitcoin Ethereum Nachrichten Gestern Bitcoin (BTC) reached one of the most important areas in its history, the 200-week moving average (200W MA). This has only happened 3 times in history so far and has always correlated with a macro bottom in the price of the largest cryptocurrency. Bitcoin has been falling since reaching the all-time high (ATH) of $69,000 on November 10, 2021. The decline accelerated from a local peak at $48,200 on March 28, 2022. After that, BTC generated 9 consecutive bearish weekly candles and one green candle (orange area). It then continued its decline further and printed another two red weekly candles with over -10% body each (blue arrows). Yesterdays daily candle alone had a body of -15.38% and brought the price down to the $21,925 level at the bottom of the wick. This morning, Bitcoin continued its declines, taking it to a Tief von 20,846 $. Chart von TradingviewBitcoin reaches 200W MA In the chart above, we notice the blue line where Bitcoins decline seems to be currently stopping. This is the 200-week moving average (200W MA) – a level of very high historical significance. On the long-term chart, we see that this Kurve has served