Adam Back Flags Bitcoin’s 200-Week Average as a Structural Bull Signal

BTC

BTC/USDT

$79,741.99

+0.05%

$79,741.99

+0.05%

(24s)

24h Volume

$6,287,547,194.95

24h H/L

$80,200.00 / $79,442.00

Change: $758.00 (0.95%)

Long/Short

52.7%

Long: 52.7%Short: 47.3%

Funding Rate

+0.0008%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$79,736.01

▲ 0.09%

Volume (24h): -

Resistance Levels

Resistance 3$88,315.23

Resistance 2$82,300.00

Resistance 1$79,796.06

Price$79,736.01

Support 1$79,635.96

Support 2$76,187.99

Support 3$74,131.55

Pivot (PP):$79,916.17

Trend:Sideways

RSI (14):66.6

Phil Haunhorst

(05:06 PM UTC)

1 min read

Updated byDavid Kim

0 comments

Bitcoin’s (BTC) 200-week moving average has climbed past $61,000. Blockstream CEO Adam Back flagged the threshold on May 30, weeks after noting the same indicator crossed $60,000 in early May.

The indicator has risen roughly $1,000 in under a month, a pace that reflects steady absorption of supply by long-term holders at current price levels.