{"id":545580,"date":"2023-08-02T23:02:04","date_gmt":"2023-08-02T23:02:04","guid":{"rendered":"https:\/\/uniquehot.com\/?p=545580"},"modified":"2024-06-11T07:07:08","modified_gmt":"2024-06-11T07:07:08","slug":"this-long-term-bitcoin-price-average-is-setting-aths","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/this-long-term-bitcoin-price-average-is-setting-aths\/","title":{"rendered":"This Long-Term Bitcoin Price Average Is Setting ATHs"},"content":{"rendered":"

Bitcoin price is nowhere near setting new all-time highs, but an important long-term price average is doing so, day after day, month after month.<\/p>\n

What is this moving average being referenced, and what does it setting new highs potentially mean?<\/p>\n

\"Bitcoin<\/p>\n

The 50-month moving average at the highest point ever| BTCUSD on TradingView.com<\/a><\/pre>\n
Meet The Moving Train: The 50-Month Moving Average<\/h2>\n
As Bitcoin and the rest of the crypto market grind painfully sideways, a key measure using a moving average of BTCUSD price action is rising steadily, now at its highest point ever historically.<\/p>\n
The moving average in reference is the 50-month moving average (50MA). To calculate the span, simply take the last 50 months worth of BTCUSD closing prices, add them together, then divide them by the 50 (the number of months worth of data in the period).<\/p>\n
Related Reading: Bitcoin Bollinger Bands Are The Tightest Ever, What Happens Next?<\/a><\/div>\n
Traders use moving averages for a variety of reasons. This includes as trend-following tool, as trend lines, and for timing entries and exits. Such signals trigger when price passes above or below the span, or if two moving averages crossover one another in a two-moving average system. These are called a golden cross or death cross.<\/p>\n
\n
#Bitcoin<\/a>\u2019s 50-month moving average continues to set new record highs<\/p>\n
Without all the noise, the primary trend points upward pic.twitter.com\/HG8gjO3Gn6<\/a><\/p>\n
— Tony "The Bull" (@tonythebullBTC) August 2, 2023<\/a><\/p><\/blockquote>\n
What The 50MA Hitting ATHs Means For Bitcoin<\/h2>\n
The 50-month moving average making new all-time highs, general means the primary trend is still up. The chart above shows the long-term uptrend clearly without the noise of candlesticks or price action. With the candlesticks turned back on, Bitcoin is above the span \u2014 another bullish sign.<\/p>\n
Related Reading: Don\u2019t Change The Channel! Why Bitcoin Could Target $42K If Uptrend Holds<\/a><\/div>\n
BTCUSD closed above the 50MA back in March 2023 and has since held above it for several months. Notably, Bitcoin lost this level for the first time back in June 2022. Meanwhile, the top cryptocurrency bottomed precisely at the 50MA in 2018 and again in 2020.<\/p>\n
The 50MA is currently at $26,353 and could act as support of retested. If lost, it could be a sign the longer-term trend is turning bearish. The 200-week moving average, another similar high timeframe price indicator that is used widely in technical analysis, is also at a similar level and trending upwards.<\/p>\n
This chart originally appeared in Issue #14 of CoinChartist (VIP)<\/a>. Subscribe for free<\/a>.<\/p>\n
Tony is the author of the CoinChartist (VIP) newsletter<\/a>. Sign up for free<\/a>. Follow @TonyTheBullBTC<\/a> & @coinchartist_io<\/a> on Twitter. Or join\u00a0the TonyTradesBTC Telegram<\/a> for daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is nowhere near setting new all-time highs, but an important long-term price average is doing so, day after day, month after month. What is this moving average being referenced, and what does it setting new highs potentially mean? The 50-month moving average at the highest point ever| BTCUSD on TradingView.com Meet The Moving Train: The 50-Month Moving Average As Bitcoin and the rest of the crypto market grind painfully sideways, a key measure using a moving average of BTCUSD price action is rising steadily, now at its highest point ever historically. The moving average in reference is the 50-month moving average (50MA). To calculate the span, simply take the last 50 months worth of BTCUSD closing prices, add them together, then divide them by the 50 (the number of months worth of data in the period). Related Reading: Bitcoin Bollinger Bands Are The Tightest Ever, What Happens Next? Traders use moving averages for a variety of reasons. This includes as trend-following tool, as trend lines, and for timing entries and exits. Such signals trigger when price passes above or below the span, or if two moving averages crossover one another in a two-moving average system. These are called a golden cross or death cross. #Bitcoin\u2019s 50-month moving average continues to set new record highs Without all the noise, the primary trend points upward pic.twitter.com\/HG8gjO3Gn6 — Tony "The Bull" (@tonythebullBTC) August 2, 2023 What The 50MA Hitting ATHs Means For Bitcoin The 50-month moving average making new all-time highs, general means the primary trend is still up. The chart above shows the long-term uptrend clearly without the noise of candlesticks or price action. With the candlesticks turned back on, Bitcoin is above the span \u2014 another bullish sign. Related Reading: Don\u2019t Change The Channel! Why Bitcoin Could Target $42K If Uptrend Holds BTCUSD closed above the 50MA back in March 2023 and has since held above it for several months. Notably, Bitcoin lost this level for the first time back in June 2022. Meanwhile, the top cryptocurrency bottomed precisely at the 50MA in 2018 and again in 2020. The 50MA is currently at $26,353 and could act as support of retested. If lost, it could be a sign the longer-term trend is turning bearish. The 200-week moving average, another similar high timeframe price indicator that is used widely in technical analysis, is also at a similar level and trending upwards. This chart originally appeared in Issue #14 of CoinChartist (VIP). Subscribe for free. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join\u00a0the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":545582,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790],"class_list":["post-545580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nThis Long-Term Bitcoin Price Average Is Setting ATHs<\/title>\n<meta name=\"description\" content=\"Bitcoin price is nowhere near setting new all-time highs, but an important long-term price average is doing so, day after day, month after month. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"This Long-Term Bitcoin Price Average Is Setting ATHs","url":"http:\/\/uniquehot.com\/news\/this-long-term-bitcoin-price-average-is-setting-aths\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/this-long-term-bitcoin-price-average-is-setting-aths\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/48DBC9EC-77A2-4A19-9884-CCAF3D343671.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/48DBC9EC-77A2-4A19-9884-CCAF3D343671.jpeg?fit=2309%2C1299"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt"],"dateCreated":"2023-08-02T23:02:04Z","datePublished":"2023-08-02T23:02:04Z","dateModified":"2024-06-11T07:07:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"This Long-Term Bitcoin Price Average Is Setting ATHs\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/this-long-term-bitcoin-price-average-is-setting-aths\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/this-long-term-bitcoin-price-average-is-setting-aths\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/48DBC9EC-77A2-4A19-9884-CCAF3D343671.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/48DBC9EC-77A2-4A19-9884-CCAF3D343671.jpeg?fit=2309%2C1299\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2023-08-02T23:02:04Z\",\"datePublished\":\"2023-08-02T23:02:04Z\",\"dateModified\":\"2024-06-11T07:07:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/48DBC9EC-77A2-4A19-9884-CCAF3D343671.jpeg?fit=2309%2C1299","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/545580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=545580"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/545580\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/545582"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=545580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=545580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=545580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}