This Market Trend Shows The Bitcoin Price Is Ready For Its Next Leg Up

The below is from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

Bitcoin looks poised for its next leg up.

An ongoing battle between the bulls and bears is currently underway for the 200-day moving average of the bitcoin price. The 200-day moving average is often viewed by traders and market analysts alike as a key indicator for the momentum of a given asset, thus the recent resistance and chop above and below the indicator is quite telling.