BTC suddenly produces new yearly highs after a $30,000 bounce.
Analytics account PlanC was equally hopeful that the current phase would end in bulls' favor. Bitcoin's 2-year exponential moving average , currently at $28,500, was in focus.
"Bitcoin is battling to stay above the 2-Year EMA; historically, when it does, this is a bullish sign," its latest tweet"All previous cycle lows occurred when BTC was 45% to 55% below the 2-year EMA, which has already happened." An accompanying chart showed the so-called 2-Year EMA Multiplier, depecting BTC price behavior around its trend lines in years past.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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