Bitcoin

Bitcoin breaks multiple key resistance levels on path to $26K

03/15/2023
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Definition

  • 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.
  • Yearly Moving Average (365D-SMA) 🔵The 365 Day Simple Moving Average provides a long standing baseline for high time-frame market momentum.
  • 🔵 Long-Term Holder Realized Price reflects the average on-chain acquisition price for coins held outside exchange reserves, which have not moved within the last 155-days. These reflect the least probable coins to be spent on any given day.

Quick Take

  • Bitcoin surpasses $26,000 and, on the way, broke multiple resistance levels.
  • The 200 WMA was at $25,277.
  • The 365 DMA was at $24,448.
  • Long-term holder realized price at $21,958.
Technical Pricing Models: (Source: Glassnode)
Technical Pricing Models: (Source: Glassnode)
Cost Basis Cohorts: (Source: Glassnode)
Cost Basis Cohorts: (Source: Glassnode)

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Source: https://cryptoslate.com/insights/bitcoin-breaks-multiple-key-resistance-levels-on-path-to-26k/