BTC31011
07/09 18:17
In a recent tweet, Mags pointed out that Bitcoin’s 50-week moving average (50 WMA) has long acted as a strong support level. Whenever Bitcoin touched this line before, it often bounced back and moved higher.
Mags’ chart highlights several historical “BUY” signals when Bitcoin touched the 50 WMA and later surged higher. The only “SELL” signal occurred back in early 2022, when BTC failed to hold above the moving average. Since then, the 50 WMA has continued to act as a strong support line.
history repeats, Bitcoin could soon break past $112,000 and head toward $130,000 or more.
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