Bitcoin traders say 'get ready' as BTC price preps 2023 bull market

Once this upward-sloping trend line clears the immediate spot price range, a protracted period of upside follows, giving the 21-week SMA its nickname — the “bull market line.”“Once the weekly 21 MA crosses over BTC market structure it will kick off the Bull Market,” he forecast.BTC/USD annotated chart with 21-week SMA. Source: Titan of Crypto/Twitter

Bitcoin’s last such MA cross occurred four years ago in early 2019 — the same juncture as today’s price action during the previous cycle. This led to that year’s local high near $14,000. March 2020 saw a brief undoing of the cross thanks to the COVID-19 cross-market crash, something Titan of Crypto calls a “black swan.”Another trend line on the radar concerns longer timeframes — the 20-month SMA.This, Moustache notes, has heralded every previous Bitcoin bull market — a monthly candle close above the 20-month SMA has seen every subsequent candle also close above it until the cycle high. Here again, March 2020 forms a fleeting exception to the rule.

Washigorira Bitcoin is closely copying prior BTC price cycles, and the time is almost right for a bullish surge, according to Titan of Crypto. Uploading historical BTC/USD price data, he drew attention to the 21-week SMA, currently at $27.9K per Cointelegraph Markets Pro and tradingview.

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