Report suggests that 200-week moving average is pointing at a major Bitcoin rally

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Updated: 12 June 2019
  • A recent survey revealed that most crypto investors have never been part of a bear market that transitioned into a bull market.
  • A technical analyst has advised such investors to pay attention to the 200-week moving average, which has accurately predicted Bitcoin trends in the past.

According to a report published by NEWSBTC, the 200-week MA acted as a strong support during the extended bear trend that lasted for at least 18 months.

The report argues that the same indicator is now rising at a stable rate, which is a clear indicator that Bitcoin’s price is about to rally.

Crypto markets are highly volatile, but investors can use technical analysis as part of their research process.