🔥 Bitcoin 200 Week moving average sits at 6,700$! by resiliencia

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· @resiliencia ·
$4.54
🔥 Bitcoin 200 Week moving average sits at 6,700$!
Hello!

There is a really powerful indicator for the price of Bitcoin that has been fascinating me since 2017. It is the Bitcoin weekly moving average (WMA). That indicator (the black line in the chart below) just points the average price of Bitcoin for the last 200 weeks.

What I love from this indicator is that it has been increasing since the beggining, this is one of the most BULLISH indicators we have for the Bitcoin price.

The second thing I love is that the price has never been below that mark. You can see it clearly in the @100trillionusd chart:

![image.png](https://files.peakd.com/file/peakd-hive/resiliencia/sQoJCndC-image.png)
[Source](https://twitter.com/100trillionUSD)

The actual 200 Week moving average for Bitcoin is 6,700$. 
This can be seen a HUGE resistance, I will be pulling the trigger really hard if we ever reach that level of prices again. (Don't tell anybody but I hope so).

The 200 (WMA) has been increasing $200/month approximately. If we keep this rate, by the beggining of 2022 the floor will be around the 10,000$ mark. Amazing progression!

Everytime I see this kind of information I become more confident about being involved in crypto. Future looks bright!

Enjoy! 😊

<hr> 

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vote details (239)
@myblurtrides1 ·
Good news indeed.  Excellent technical analysis.
👍  
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@resiliencia ·
Thanks!
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@alokkumar121 ·
@tipu curate
👍  
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@tipu ·
<a href="https://tipu.online/curator?alokkumar121" target="_blank">Upvoted  &#128076;</a> (Mana: 4/6) <a href="https://tipu.online" target="_blank">Passive income</a> || <a href="https://mys.github.io/steem-apr" target="_blank">Compare APR</a>
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@resiliencia ·
Thank you!
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