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Bitcoin Reclaims All Key Long-Term Moving Averages After About 300 Days, Signaling Recovery in Uptrend
Minseung Kang
Summary
- Bitcoin has reclaimed all key long-term moving averages for the first time in about 300 days.
- Glassnode said Bitcoin had traded below those moving averages for about 300 days, but that the recent trend has reversed.
- Glassnode added that holding the price above those moving averages is important to maintaining a long-term uptrend.
Forecast Trend Report by Period
Bitcoin has reclaimed all of its key long-term moving averages for the first time in about 300 days, according to on-chain analytics firm Glassnode.
On September 22, Glassnode wrote on X, formerly Twitter, that "Bitcoin has reclaimed all long-term moving averages."
Bitcoin had traded below those moving averages for about 300 days, but the recent move marks a reversal in trend, the firm said.
Glassnode added that holding above those moving averages will be critical to sustaining a long-term uptrend.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.