Glassnode: Bitcoin reclaims all long-term moving averages for first time in 300 days
- —Bitcoin reclaimed all long-term moving averages for the first time in about 300 days
- —Weekly close on Sept. 20 was near $81,159, above the 50-week MA for the first time in 45 weeks
- —Galaxy Research treats the 50-week MA as a key gauge of Bitcoin's long-term trend
- —Sustaining price above the averages is the condition for confirming an uptrend
Why it matters: Reclaiming long-term averages is a technical trend-reversal signal, but it needs confirmation through sustained price action above them.
Source: TokenPost