Historically speaking, the 20 week moving average has been Bitcoin's support line during a bull market. This is where the bulls come to hold the line in the event of a correction. Now that the price of Bitcoin is rallying, the 20 week MA is also rapidly pushing higher at approximately $400 per week. With this in mind, it would only take a couple more weeks to see the 20 week MA breaking into $13k territory. Always be aware of where this moving average is located, because holding it or breaking it can mean entirely different things for the market. In terms of holding or breaking it, I primarily care about weekly candles, not wicks! TA Video by Benjamin Cowen.
