$BTC just closed a weekly candle above its 50-week moving average for the first time in 45 weeks.
That level has acted as the ceiling throughout this bear market.
Alex Thorn’s research at Galaxy shows that in four of the five completed bear markets that lost the 50-week MA, the first weekly reclaim came after the bottom was already in.
Historically, this has been one of Bitcoin’s clearest signals that the worst may be behind it.
NFA/DYOR !
That level has acted as the ceiling throughout this bear market.
Alex Thorn’s research at Galaxy shows that in four of the five completed bear markets that lost the 50-week MA, the first weekly reclaim came after the bottom was already in.
Historically, this has been one of Bitcoin’s clearest signals that the worst may be behind it.
NFA/DYOR !
