Bitcoin – Never Below $6.7K Again?

So according to PlanB and the 200-week moving average, we should never see Bitcoin below $6700

Bitcoin 200-week moving average hints price will never go below $6.7K

“PlanB was referencing the 200-week moving average (200MA) for BTC/USD. A popular tool in his work, the 200MA has never been broken during Bitcoin price downtrends.

As of Tuesday, the level equated to $6,700 and continues to rise by around $200 every month.

As long as historic behavior continues as it has done since Bitcoin’s 200th week of existence, $6,700 will now form a definitive price floor.

‘BTC 200WMA never goes down. BTC monthly close has never been below 200WMA,’ PlanB confirmed earlier in September when the figure stood at $6,600.

He added that in March 2017, Bitcoin saw a ‘struggle’ to clear the significant $1,000 mark for good. After succeeding, however, all-time highs of $20,000 arrived by the end of the year.”


Master Asked on September 23, 2020 in Bitcoin.
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