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The opinion claims that Bitcoin has regained all long-term moving averages and that a trend reversal may be possible.
Opinion: Bitcoin has reclaimed all long-term moving averages; the trend has reversed
BlockBeats reported on September 22 that Glassnode stated that BTC has reclaimed all long-term moving averages. After remaining below these moving averages for approximately 300 days, this trend has now reversed. As long as BTC can remain above these long-term moving averages, the long-term uptrend is expected to continue.
Original link https://m.theblockbeats.info/flash/368425
On September 22, Glassnode stated that BTC has regained all long-term moving averages.
Previously, BTC remained below these moving averages for approximately 300 days.
The opinion holds that as long as BTC remains above these long-term moving averages, the long-term uptrend is expected to continue.
The following is analysis, separate from reported facts. Verify important claims independently.
Long-term moving averages are indicators used to observe longer-term price trends. The view in the text holds that BTC moving back above these averages may mean that the previous price movement has reversed.
This indicates that market views are beginning to focus on whether BTC can remain above long-term moving averages and whether the long-term uptrend will continue.
Beginners can understand long-term moving averages as reference lines for observing long-term trends, but cannot confirm that a trend has reversed based on this indicator alone.
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The abbreviation commonly used for Bitcoin when referring to it as a digital currency.
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