What Does the 200-Week Moving Average Show?

The 200-Week Moving Average is an indicator created by averaging Bitcoin’s weekly closing prices over the last 200 weeks. This value provides a clear idea of the market’s long-term direction. The white line represents the Bitcoin price, and the yellow line represents the 200-week moving average (200WMA).

• When the price stays above the 200WMA: It indicates that investor expectations about the market are positive and the upward trend is maintained.
• When the price approaches or falls below the 200WMA: Historically, these levels have been strong buying zones for investors.

How Does the 200-Week MA Heatmap Work?

The 200-week MA heatmap is analyzed based on Bitcoin’s distance from the 200WMA. This allows investors to directly see how close the price is to the long-term average.

• If the price is very close to the 200WMA: The market may be operating in line with historical averages. This can indicate a possible bottom region.
• If the price is significantly above the 200WMA: Investors may interpret this as the price being above normal and the risk of correction increasing.

This system offers distance-based analysis instead of colorful visuals, making it especially suitable for those who prefer simpler and data-driven strategies.

How Should It Be Used?

Long-term Bitcoin investors can regularly monitor the distance data on this map to understand periods of overheating or cooling in the market.

• When the price falls below the 200-week average: Historically, these levels have been buying opportunities.
• When the price is far above (to the upside): These situations have often indicated rest or pullback phases in the past.

Why Is It Important?

Looking at Bitcoin’s past performance, the 200-week moving average line has often acted as a strong support level. BTC has spent a very short amount of time below this line. Therefore, prices approaching this line have usually been advantageous entry points for long-term investors.

This content does not constitute investment advice. The markets involve high risk and it is important that you do your own research before making any investment decisions.

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Bitcoin Investment Addresses Decline

In a Quicktake analysis published on the CryptoQuant platform, CryptoOnchain highlighted a decrease in the number of Bitcoin wallet addresses sending funds to centralized exchanges. According to the data, the number of addresses depositing BTC to exchanges has dropped to its lowest level since 2017. This indicates that spot investors are choosing to hold their Bitcoin rather than sell, signaling expectations of a near-term price increase.  

BTC Tests $97,000

BTC surpassed $97,000, reaching its highest level since February 20. BTC is supported by expectations of a potential U.S. Federal Reserve (Fed) interest rate cut. Lower interest rates reduce bond yields, boosting interest in riskier assets like BTC. Investors are turning to cryptocurrencies and stocks in pursuit of higher returns.  

Crypto analyst PlanB noted that the next critical resistance level for BTC is around $97,530. Bitcoin is currently trading slightly above $97,000. A clear close above $97,500 could strengthen the likelihood of Bitcoin reaching a new all-time high (ATH) in the near term. As a reminder, Bitcoin’s current ATH is $108,786, recorded on January 20.  

Crypto analyst Doctor Profit suggested that Bitcoin’s local bottom for this cycle may have been $74,508, seen on April 6. The current price is only 11.3% below the ATH. The analyst noted that BTC has formed a strong monthly bullish candle and is trading above the Ichimoku Cloud indicators, which present a positive outlook for BTC.  

Additionally, analyst Credible Crypto, based on the Golden Ratio Multiplier model, predicted that Bitcoin could reach $124,000. As of writing, Bitcoin is trading around $97,000, up 3.3% in the last 24 hours.  

BTC Signals Strong Bullish Momentum

Backed by technical indicators and macroeconomic developments, BTC is flashing strong bullish signals. The decline in addresses depositing to exchanges shows that investors are opting to hold rather than sell. However, breaking the $97,500 resistance remains critical for a new ATH. 

—This is not investment advice.

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Strong inflows were recorded between January 3 and January 6, with January 6 alone seeing investors pour $978.6 million into spot Bitcoin ETFs. Fidelity Wise Origin Bitcoin Fund led the way with $370.2 million in inflows, followed by BlackRock’s iShares Bitcoin ETF at $209 million, and ARK 21Shares Bitcoin ETF at $153 million.

Other popular funds, including the Bitwise Bitcoin ETF and Grayscale’s GBTC and BTC funds, collectively attracted over $70 million in investments. VanEck Bitcoin ETF received $17.3 million, while Franklin Bitcoin ETF saw $8.9 million in inflows.

However, not all funds benefited from this surge. Invesco, Valkyrie, and WisdomTree’s spot Bitcoin ETFs recorded no inflows on January 6. Overall, spot Bitcoin ETFs garnered a total of $36.9 billion in net inflows.

Could This Impact Bitcoin’s (BTC) Price?

Matt Hougan, Chief Investment Officer at Bitwise, predicts Bitcoin could reach $200,000 by 2025. Similarly, VanEck forecasts that Bitcoin may surpass $180,000.

A report published by Binance on October 25 indicated that 80% of demand for spot Bitcoin ETFs comes from retail investors. However, industry analysts expect institutional interest to grow, particularly as more centralized exchanges emerge by 2025.

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Bitcoin experienced a pullback to the $42,000 levels as the horizontal movement came to an end recently. If it can see a rebound from this level, it may target the $43,000 levels again. However, if this zone is lost, a further retracement to the $40,750 levels may occur.

‣ Bitcoin (BTC): The BTC/USD pair is currently trading at $42,740 with a %0.48 increase at the time of writing. Resistance levels for BTC are in the range of $44,000 to $44,400, and support levels are in the range of $42,000 to $41,800.

‣ Ethereum (ETH): The ETH/USDT pair is currently trading at $2,251 with a %0.88 increase at the time of writing. Resistance levels for Ethereum are in the range of $2,294 to $2,386, and support levels are in the range of $2,150 to $2,077.

‣ Matic (MATIC): The MATIC/USD pair is currently trading at $1.05 with a %3.80 increase at the time of writing. Resistance levels for MATIC are in the range of $1.18 to $1.52, and support levels are in the range of $0.95 to $0.84.

‣ Ordinals (ORDI): The ORDI/USD pair is currently trading at $71.66 with a %5.06 increase at the time of writing. Resistance levels for ORDI are in the range of $76.02 to $90.09, and support levels are in the range of $48.19 to $44.65.

‣ Gitcoin (GTC): The GTC/USD pair is currently trading at $1.49 with a %7.50 increase at the time of writing. Resistance levels for GTC are in the range of $1.86 to $2.43, and support levels are in the range of $1.34 to $1.11.

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We are entering an important period for Bitcoin. Especially if the weekly closing is positive, it can cause significant volatility in the coming days. The approach of monthly and annual closings is also important, as this situation can cause significant changes in the Bitcoin market.

Another significant detail is the possibility of major investors withdrawing from the market with the arrival of the new year and the holiday of US exchanges. This situation could lead to serious directional movements in Bitcoin. It may therefore be beneficial to carefully monitor liquidation rates and long-short ratios. These data can provide significant clues in understanding market trends and investors’ positions.

‣ Bitcoin (BTC) The BTC/USD parity as of the time of writing has increased 0.58% and is trading at $43259. Resistance levels for BTC are in the range of $44000 – $44400, support levels are in the range of $42 – $41800.

‣ Ethereum (ETH) As of the time of writing, the ETH/USDT parity has increased by 0.79% and is trading at $2283. The resistance levels for ETH are in the range of $2294 – $2386, while the support levels are in the range of $2150 – $2077.

‣ Polkadot (DOT) As of the time of writing, the DOT/USD parity has increased by 7.66% and is trading at $9.27. The resistance levels for DOT are in the range of $9.52 – $10.46, while the support levels are in the range of $8.63 – $7.76.

‣Cyber (CYBER) As of the time of writing, the CYBER/USD parity has increased by 10.17% and is trading at $7.31. The resistance levels for CYBER are in the range of $7.36 – $7.96, while the support levels are in the range of $6.46 – $6.20.

‣ MultiversX (EGLD) As of the time of writing, the EGLD/USD parity has a 4.30% increase and is trading at $75.87. The resistance levels for EGLD are in the range of $86.92 – $101.23, while the support levels are in the range of $63.30 – $60.88.

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Bitcoin, although it reached levels of $44,000 yesterday, could not make a daily closing above this level. A withdrawal occurred after eating a sale from the potential sales area. When we look at the Bitcoin chart now, it seems like a double peak formation is forming. If there is a daily closing below $41,000, the formation will be confirmed and we may see a decline to levels of $38,500. Therefore, it is important to be careful in our positions.

‣ Bitcoin (BTC) The BTC/USD pair is trading at $43,651, down 0.78% at the time of writing. Resistance levels for BTC are in the range of $44,000 – $44,400, support levels are in the range of $42 – $41,800.

‣ Ethereum (ETH) The ETH/USDT pair is trading at $2,293, down 1.40% at the time of writing. Resistance levels for ETH are in the range of $2,294 – $2,386, support levels are in the range of $2,150 – $2,077.

‣ Optimism (OP) The OP/USD pair is trading at $3.22, down 6.81% at the time of writing. Resistance levels for OP are in the range of $3.55 – $4.11, support levels are in the range of $2.98 – $2.63.

‣Cyber (CYBER) CYBER/USD pair is trading at $6.72, down 3.35% at the time of writing. Resistance levels for CYBER are in the range of $6.96 – $7.13, support levels are in the range of $6.34 – $5.99.

‣ Matic (MATIC) MATIC/USD pair is trading at $0.84, down 4.01% at the time of writing. Resistance levels for MATIC are in the range of $0.87 – $0.93, support levels are in the range of $0.82 – $0.76.

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By the weekend, Bitcoin broke the upward trend that emerged in the short term. In the coming hours or days, we may see a correction down to the levels of $40,000. If a speedy recovery comes above $40,000, a bounce can be experienced from this support point. However, if the candles start to close below and the descending peaks continue, this correction may take a little longer.

‣ Bitcoin (BTC) BTC/USD parity is trading at $41941 with a 0.80% decrease at the time of writing. Resistance levels for BTC are in the range of $42950 – $44250, while support levels are in the range of $42100 – $41400.

‣ Ethereum (ETH) ETH/USDT parity is trading at $2213 with a 0.74% decrease at the time of writing. Resistance levels for ETH are in the range of $2252 – $2294, while support levels are in the range of $2150 – $2077.

‣ Atom (ATOM) ATOM/USD parity is trading at $11.37 with a 5.62% decrease at the time of writing. Resistance levels for ATOM are in the range of $11.55 – $11.96, while support levels are in the range of $11.23 – $10.96.

‣ Jito (JTO) JTO/USD parity is trading at $2.75 with a 5.76% increase at the time of writing. JTO Resistance levels are in the range of $3.51 – $4.27, while support levels are in the range of $2.62 – $1.78.

‣ MultiversX (EGLD) EGLD/USD parity is trading at $63.19 with a 3.52% increase at the time of writing. Resistance levels for EGLD are in the range of $63.52 – $66.86, while support levels are in the range of $57.84 – $49.56.

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Bitcoin could not surpass the $43,000 resistance and fell back to $41,600. Instead of thinking we’re in a deep correction right now, we believe Bitcoin is inclined to test lower supports as long as $40,000 isn’t broken. Therefore, caution is needed for short and long trades until clear breakouts come in.

‣ Bitcoin (BTC) BTC/USD pair is trading at $42,329 with a rise of %0.86 as of writing. The resistance levels for BTC are at the range of $42,950 – $44,250.

‣ Ethereum (ETH) ETH/USDT pair is trading at $2,250 with a rise of %1.31 as of writing. The resistance levels for ETH are at the range of $2,252 – $2,294.

‣ Avax (AVAX) AVAX/USD pair is trading at $42.31 with a rise of %6.46 as of writing. The resistance levels for AVAX are at the range of $42.94 – $50.36.

‣ Dydx (DYDX) DYDX/USD pair is trading at $2.93 with a rise of %5.00 as of writing. The resistance levels for DYDX are at the range of $3.01 – $3.26.

‣ MultiversX (EGLD) EGLD/USD pair is trading at $60.59 with a rise of %4.55 as of writing. The resistance levels for EGLD are at the range of $61.35 – $66.86.

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