On-chain crypto analyst, Rekt Capital, expressed that the two Exponential Moving Averages (EMAs) of the Bitcoin market are expected to drive strong resistance support for the BTC/USD market. The two averages represent 21-week and 50-week EMAs.
He proposed that the EMAs could trigger a new bull run for the BTC/USD market if only it drives the resistance support. To clarify, the analyst made this statement based on his personal experience and what he thinks the Bitcoin EMAs can bring.
These two #BTC Bull Market EMAs are now going to figure as a resistanceThey constitute the mid-point of the macro range
Both need to be reclaimed as support for $BTC to enter the upper half of its macro range (green-red)#Crypto #Bitcoin pic.twitter.com/jIYR8qZZhB
— Rekt Capital (@rektcapital) February 9, 2022
According to Rekt Capital, the EMA will remain steadily at the mid-point of Bitcoin’s macro range level. He emphasized that if BTC recovers such a resistance position, it will introduce flourishing growth and development to the BTC/USD market, which will unfold a smooth and endless market-wide potential, to kickstart the bull run for 2022.
Furthermore, Rekt Capital asserts that the EMAs have the threshold potential to reach a well-defined height if they reclaim the resistance support. In addition, the support will bring a new market resolution that is expected to push Bitcoin to its macro range seamlessly without any hassle.
He cited a clear explanation regarding the Bitcoin EMAs.
They constitute the mid-point of the macro range. Both need to be reclaimed as support for BTC to enter the upper half of its macro range.
Not this alone, but the EMA mechanism is expected to drive immense transformation and a positive influence on Bitcoin’s volatility as well as its price swing.