A little bit of history on the 200 week MA

The 200 week moving average (200 week MA) is the most valuable moving average. Although its function is purely psychological, historically the 200 week MA was a great bottom indicator. Its where the total market cap bottomed in 2019 and 2020:

Total market cap chart, 200 week MA in red

Its where Bitcoin specifically bottomed in 2015, 2019, and 2020:

Bitcoin chart, 200 week MA in red

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Of course, we dropped below the 200 week MA on both the Bitcoin chart and the total market cap chart thanks to FTX.

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Fast forward to the present

But Beyonderr, why is this relevant? Well, we are currently seeing a battle of the 200 week moving average. The total market cap chart is trying to reclaim the 200 week moving average

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Total market cap, 200 week MA in red

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Bitcoin just reclaimed the 200 week MA with force! Fun bonus: We are also above the 100 week MA and the 50 week MA. First time since 2021.

Bitcoin, 200 week MA in red

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Ethereum/Bitcoin is also joining the party. Where did it land? Exactly, the 200 week MA. Its nutty that ETH/BTC has been holding that since 2021.

Ethereum/Bitcoin, 200 week MA in red

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Even Ethereum has just been playing around with the 200 week moving average, either rejecting (red highlights) or supporting (green highlights).

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Ethereum, 200 week MA in red

And XRP? Just playing around with the 200 week moving average. hold it and pump, reject and dump. So far it cant claim it as support.

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XRP, 200 week MA in red.

Conclusion

What can you do with this information? Well, a lot or nothing at all. Its decision time for crypto. Which one holds and breaks will determine how well crypto does and whether its Bitcoin time, alt time, or both. Its merely a line on a chart but these lines are the most crucial ones of its kind.

Sad bonus: Moons

Moons are too young to have a 200 week MA. But when did the news drop from Reddit that they would not support Moons? After an attempt to reclaim the 200 day MA with a fake pump above it, and a clear rejection on the chart right at the 200 day MA. Nasty timing, Reddit.

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https://preview.redd.it/4ivj0lm6ssvb1.png?1307&format=png&auto=webp&s=cb4d54b2b3c530041137bec7f3cce69e6d014d41