Insights

Bitcoin faces key resistance with 365D-SMA, 200W-SMA at $25k

exchange68September 13, 2024

0 0 1 minute read

Definition

Yearly Moving Average (365D-SMA) 🔵

The 365-Day Simple Moving Average provides a long-standing baseline for high-time-frame market momentum.

The 200 Week Moving Average (200W-SMA) 🔴

The 200-Week Simple Moving Average provides a tool capturing the baseline momentum of a classic 4-year Bitcoin Cycle.

Quick Take

The 365D-SMA is currently priced at $25,142, while the 200W-SMA is priced at $25,103, key resistance levels for Bitcoin.
Bitcoin fell below the 200W-SMA during the Luna collapse in June, while it fell below the 365D-SMA in January 2022.
Bitcoin has fallen below the 365D-SMA in all prior bear markets, but the 2022 bear market cycle saw Bitcoin below the 200W-SMA for the first time.
The 365D-SMA and 200W-SMA have never crossed over; they are separated by $40.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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