Market Overview Analysis by Michele Schneider covering: Marathon Digital Holdings Inc, Bitcoin, ProShares Bitcoin Strategy ETF. Read Michele Schneider's latest article on Investing.com
That chart showed how clutch this week would be for the coin as the price held the 50-week moving average and needed to continue to do so.The blue line is the 23-month MA or about a 2-year business cycle.Monthly charts are a great way to look at the start of a much bigger trend.
And now as we have seen throughout 2024, the price holds both the longer and shorter-term business cycle moving averages.Plus, the risk is quite clear to under the 2024 lows, which we just made this week.
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