Bitcoin ‘as strong as ever’ with record high 200-day moving average
The long-term Bitcoin trend indicators, the 200-day and 200-week moving average, are at the highest-ever levels with Anthony Pompliano saying BTC is “as strong as ever.”
Bitcoin’s (BTC) 200-day moving average is at an all-time high of $50,178, a key technical indicator for predicting long-term Bitcoin price trends suggesting a bullish long-term outlook.
The indicator hit its peak on May 6, according to BuyBitcoinWorldwide. It comes as Bitcoin recovers from a post-halving price dip that saw it drop as low as $56,800 after the network’s block rewards were halved to 3.125 BTC on April 20.
The 200-day simple moving average (SMA) sums the last 200 days of Bitcoin’s closing price and divides it by 200 to iron out short-term price fluctuations, aiming to show traders and analysts a long-term trend indicator.
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Author: Martin Young
