The Bitcoin bull market support band, which consists of the 20 week SMA and the 21 week EMA now ranges from $29.6k – $32.1k. This is the price level that Bitcoin would want to definitively hold on weekly candles to maintain the integrity of the bull market. Right now, we are very far away from this level and it will seem out of reach to many. However, remember that the Bitcoin bull market support band is a moving target and by the time we test it, these moving averages could be much higher than they are today. Leave a comment down below on what you think of these support bands, and when you think we will revisit them!
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Disclaimer: The information presented within this video is NOT financial advice.