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Analysis: Bitcoin 200-week moving average approaches $50,000, long-term bullish signal emerges
Summary: According to CoinDesk, analyst James Van Straten released a market analysis stating that the Bitcoin 200-week simple moving average (200WMA) has risen to $49,223, nearing the psychological barrier of $50,000. The 200-day moving average (200DMA), representing the bull-bear divide, is currently at $96,246, successfully holding this support level during a recent pullback close to $98,000. ...
According to CoinDesk, analyst James Van Straten released a market analysis stating that the Bitcoin 200-week simple moving average (200WMA) has risen to $49,223, nearing the psychological barrier of $50,000. The 200-day moving average (200DMA), representing the bull-bear divide, is currently at $96,246, successfully holding this support level during a recent pullback close to $98,000. Analysts suggest that the continuous rise of the 200WMA reflects the growth of the market's fundamental value, nearly doubling from the bear market period of 2022 to 2023 (with an average of $25,000). When the 200-week moving average maintains a 45-degree upward trend, it often signals the complete end of the crypto winter. The Nasdaq 100 and S&P 500 indices hitting new highs create a favorable environment for Bitcoin to break previous highs.
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Link: Analysis: Bitcoin 200-week moving average approaches $50,000, long-term bullish signal emerges [Copy]
