According to BlockBeats news, on August 30, according to CoinDesk, citing data from independent research provider Fairlead Strategies, Bitcoin has exceeded the 200-day moving average. Initial resistance is at the 50-day moving average (around $28,800), with secondary resistance at the weekly cloud line, near $31,900.

It is worth noting that the weekly cloud line is closely related to the Ichimoku Kinko Hyo. Ichimoku Kinko Hyo consists of five main lines and a "cloud" called "Kumo". It consists of an area of ​​two moving averages calculated based on the highs and lows of the past period. The upper and lower parts of the clouds can serve as support and resistance areas. With Bitcoin breaking through the 200-day moving average, the market is showing optimism, and future market trends are worthy of attention.