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.
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