Price / Moving average indicator.
Support and resistance levels are established for Bitcoin.
When in a bear market, -50% below the 20 week MA acts as support.
When in a bull market, between 60% to 100% above the 20 week MA acts as resistance. Historically, these levels once hit, send Bitcoin back down to it's 20 week moving average.
In the setting of a bear market, historically, we do not ever get up to the 60% above the 20 week MA level.
Please note, this is only based on historical trends, and is not guaranteed to remain true in this or future market cycles.
Support and resistance levels are established for Bitcoin.
When in a bear market, -50% below the 20 week MA acts as support.
When in a bull market, between 60% to 100% above the 20 week MA acts as resistance. Historically, these levels once hit, send Bitcoin back down to it's 20 week moving average.
In the setting of a bear market, historically, we do not ever get up to the 60% above the 20 week MA level.
Please note, this is only based on historical trends, and is not guaranteed to remain true in this or future market cycles.
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Remember, these values for support and resistance are not exact, in reality they vary by about 5-10% per cycle historically.