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Bitcoin Surpasses Multiple Price Bands for Support Level Ahead of Crucial Weekly Close
An extremely important weekly close is approaching. It is the first time in over 250 days that the price of Bitcoin is going to close above multiple important price bands. These are: 🟠 Short-Term Holder Realized Price 🟢 Long-Term Holder Realized Price 🟣 Adjusted Realized Price 🟡 200 Weekly Moving Average The price of Bitcoin has traded below most of these bands for more than 250 days. This was a unique moment in history, partly caused by the FTX capitulation event. The fact that Bitcoin is rising above these levels is important because it provides a bullish perspective for the coming weeks and gives a clear point of invalidation, namely falling back below these Floor Bands.