Analyst: Bitcoin's 200-week moving average is a cycle bottom indicator, holding above it may start a new bull market

CoinFeed June 27 news, analyst Ai reviewed Bitcoin's ten-year cycle trend and stated that the 200-week simple moving average is the core indicator for determining Bitcoin's cycle-level major bottom. Historically, every time the price touches or falls below this moving average, it will usher in a long-term low-price accumulation window, followed by a significant upward price movement. Historical data shows that after touching the moving average in 2015, 2018, 2020, and 2022, Bitcoin recorded gains of 8500%, 267%, 1125%, and 680% respectively. Currently, Bitcoin's 200-week moving average price is at $63,500, and the coin price is running below $60,000, having entered the long-term value accumulation range. The analyst also warned of short-term pullback risk, with the market possibly retreating to $54,000, and in extreme cases, it may drop to $40,000, making it suitable to adopt a dollar-cost averaging strategy to build positions in batches.