Summary
- Bitcoin (BTC) has fallen below its 200-week simple moving average (SMA), a level that may offer a long-term buying opportunity.
- Ali Martinez said Bitcoin rarely trades below its 200-week moving average and that the level has historically provided a consistent long-term accumulation opportunity.
- Ali Martinez said now is a good time to begin a dollar-cost averaging strategy, adding that Bitcoin rose more than 267% and 660% after the 2019 and 2022 bear markets, respectively.
Forecast Trend Report by Period
Bitcoin has fallen below its 200-week simple moving average, a rare move that may offer a long-term buying opportunity.
Ali Martinez wrote on X on June 27 that Bitcoin seldom trades below its 200-week moving average and that the level has historically provided a consistent long-term accumulation zone.
He added that now is a good time to start a dollar-cost averaging strategy.
A chart shared by Martinez showed that after briefly dropping below the 200-week moving average during the 2019 and 2022 bear markets, Bitcoin later climbed more than 267% and 660%, respectively.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.