Analysis: Bitcoin Approaches Four-Year SMA Support Level, Possibly in the Final Stage of the Bear Market
PANews, February 15 – According to an analysis model released by CryptoQuant analyst Darkfost, the indicator based on bitcoin's four-year simple moving average (SMA) has entered the bear market range. This indicator measures bitcoin's valuation status using standard deviation and SMA multiples: the higher the multiple, the more overbought the market is; the closer the price is to the four-year SMA, the lower the valuation.
Currently, the price of bitcoin has fallen back to the green zone and is approaching the four-year SMA level, which is currently around $57,500. Historically, this level usually marks the final stage of each bear market, with BTC prices often consolidating in this area for several months. Darkfost stated that he generally does not prefer models based on moving averages, but believes this indicator is worth paying attention to.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
U.S. CPI data boosts market sentiment, Asian stocks expected to rise on Monday
Korean stock market closed from Monday to Wednesday
Australian stocks open up 0.25%
Over $1.9 billion in leveraged positions liquidated in the past 7 days
