One of them is the crypto technical analyst Matthew Hyland, who sees $20,200 as the price at which Bitcoin could finally break out of the bear market, which he earlier noted was “its second longest,” as he explained in a video tweeted on November 22. Hyland, who has been tweeting about the 3-day supertrend indicator since last January, argued that: Moving forward, he clarified that “this is because, whenever Bitcoin makes new lows, it lowers the price for this to flip green, so when we get back above that $20.2k level, this would actually flip green.” The expert also referred to the 3-day moving average convergence divergence (MACD) indicator, for which he said “flipped earlier this week, about a week ago, and the last two times, it led to new bear market lows, and that happened once again – today we saw new bear market lows.”
Second-longest bear market
As Hyland reiterated: Meanwhile, the largest decentralized finance (DeFi) asset by market capitalization ($302.19 billion) is at press time changing hands at $15,727, down 2.27% on the day and 6.30% across the previous seven days, as per data retrieved by Finbold on November 22. It is also worth noting that Bitcoin losing support at $15,800 means that the zone for longs now stands between $15,510 and $15,250, as pseudonymous crypto expert Moustache specified while the maiden crypto was still testing this level. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
