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Bitcoin (BTC) Reaches Crucial Long-Term Moving Average

Bitcoin (BTC) has broken out from a long-term descending resistance line and is in the process of reclaiming its 200-week moving average (MA).
Throughout its price history, the 200-week MA has acted as the price bottom for bitcoin numerous times (green icon).
If the upward movement is to continue, it’s crucial that Bitcoin quickly moves above the channel confines.
BTC wave count analysisThe most likely wave count suggests that BTC has completed the five-wave downward pattern (yellow) that began in April.
For Be[in]Crypto’s previous bitcoin (BTC) analysis, click here

Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by TokenAround.

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