The post $75,500? Analyst Reveals Historical ‘Magnet’ Level appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. An analyst has pointed out how the 50-week moving average (MA) of Bitcoin has historically acted as a sort of magnet for the asset’s price. 50-Week MA Is Currently Situated At $75,500 For Bitcoin In a new post on X, analyst Ali Martinez has discussed about the 50-week MA of Bitcoin. An “MA” is a technical analysis indicator that calculates the average value of any asset’s price over a given period of time and as its name suggests, moves in time, updating its value according to the changes in the price itself. Related Reading MAs can be useful tools for studying long-term trends in an asset, as they smooth out the price curve to remove any local deviations. An MA can be taken over any window of time, but there are some particularly popular choices like the 200-day. In the context of the current topic, the time-range of focus is the 50-week. Here is the chart shared by the analyst, that shows the trend in this MA for Bitcoin over the past decade or so: Looks like the price of the asset has been approaching this line in recent days | Source: @ali_charts on X As is visible in the above graph, Bitcoin has been approaching this line following the latest market downturn. The asset has previously shown several retests of this level over the years. “The 50-week moving average has historically acted as a magnet for Bitcoin $BTC during trend shifts,” explains Martinez. So far in the current cycle, the line has acted as support for the cryptocurrency, helping prevent the bull run from running out of steam. At present, the 50-week MA is situated at $75,500. Given the current trajectory of the asset, it’s possible that a retest of the level…

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Filed under: News - @ March 5, 2025 8:27 am