#200dma

Bitcoin price performance in June has gotten off to a rocky start, with prices now down 50% from the market’s all-time high. In the last week alone, the premier cryptocurrency has declined by 16%, forcing the price to around $60,000 for the first time since February.  Notably, the heavy market loss has coincided with the dominant Bitcoin treasury Strategy offloading $2.5 million in BTC to manage…

DOGE attempted to break above $0.24 but faced resistance, settling back to $0.23 by session end. Whale net outflows of approximately 40M DOGE contributed to the resistance at $0.24, despite heavy trading volume. DOGE remains above its 200-day moving average, with traders watching for a potential golden-cross setup if shorter moving averages rise.

Technical Pricing: 200WMA vs 200DMA approaching key resistance, support levels

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Definition

The Mayer Multiple (200D-SMA) 

The 200-Day Simple Moving Average is a common technical indicator in Technical Analysis, commonly associated with the transition point between a Bull and Bear market.

The 200 Week Moving Average (200W-SMA) The 200-Week Simple Moving Average provides a tool for capturing the baseline momentum of a classic four-year Bitcoin Cycle.

Quick Take

Through every bear market cycle since Bitcoin’s inception, the price has used the 200 WMA as support. However, it fell below the support level following the collapse of TerraLUNA in June 2022.

The current 200 WMA is acting as resistance at $24,800.

While the 200 DMA has been a great indicator for bear markets, as the price has fallen below support in each bear market cycle.

Bitcoin reclaimed the 200 DMA on Jan. 13, currently priced at $19,700.

Technical Pricing Models: (Source: Glassnode)

The post Technical Pricing: 200WMA vs 200DMA approaching key resistance, support levels appeared first on CryptoSlate.

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