Bitcoin is losing its bullish momentum earlier than in previous cycles 🚨
$BTC is now trading almost 10% below its 50-week EMA, raising questions about the strength of the current market cycle.
History offers some interesting comparisons.
In 2019, BTC lost the 50W EMA, but that was after a 300% rally.
In March 2020, BTC briefly lost the same moving average during the COVID crash, only to reclaim it and begin a major bullish expansion.
Even using the previous cycle as an example, BTC spent 40 weeks above the 50W EMA after the bear market low before briefly losing it.
This time, the comparable period has lasted only 18 weeks, with BTC now 10% below the indicator.
That’s less than half the time.
Of course, losing the 50W EMA doesn’t automatically signal new lows. But if this is the start of a new bullish expansion, the early deterioration in momentum is hard to ignore.
The next sustained recovery of, or rejection at, the 50W EMA around $76k could tell us a lot about where this cycle is headed.
$BTC
$BTC is now trading almost 10% below its 50-week EMA, raising questions about the strength of the current market cycle.
History offers some interesting comparisons.
In 2019, BTC lost the 50W EMA, but that was after a 300% rally.
In March 2020, BTC briefly lost the same moving average during the COVID crash, only to reclaim it and begin a major bullish expansion.
Even using the previous cycle as an example, BTC spent 40 weeks above the 50W EMA after the bear market low before briefly losing it.
This time, the comparable period has lasted only 18 weeks, with BTC now 10% below the indicator.
That’s less than half the time.
Of course, losing the 50W EMA doesn’t automatically signal new lows. But if this is the start of a new bullish expansion, the early deterioration in momentum is hard to ignore.
The next sustained recovery of, or rejection at, the 50W EMA around $76k could tell us a lot about where this cycle is headed.
$BTC
