Bitcoin is printing bullish candles on lower time frames, while it has reached very important 50-week moving average on higher time frame. This is strong resistance line and a big test for the bulls. If it surpassed, BTC could extend the move higher.
The 50-week moving average represents one year of price action because there are 50 weeks in a ‘market year’, representing a long-term measure of the status of prices.
BTCUSD - 46K Zone Likely Next