Now that Bitcoin has held the 20 week moving average as support for the 6th week in a row, it certainly begs the question of whether this was a successful test of the 20 week MA. If we continue to make comparisons to the last market cycle and project to this one, we can understand how even a move to $12k and back to the 20 week MA would look like one long test of the 20 week MA on the macro-scale. So while we have a lot to be excited about in terms of Bitcoin holding the 20 week MA for 6 straight weeks, we still may have several more local tests of it before breaking out to the next step on our slow and methodical move to a sustainable $20k Bitcoin. TA Video by Benjamin Cowen.
