Bitcoin Tests 21-Week Moving Average as Key Technical Level

Bitcoin touched its 21-week moving average, a level historically seen as a critical threshold between bull and bear markets, Matrixport said on Oct. 21. Holding above the average typically signals a shift from bearish to bullish sentiment, while a break below could indicate further correction. The current consolidation may deepen if momentum fails to push through quickly, though the pullback so far remains mild. Matrixport noted that ideal buying opportunities in past cycles often emerged after a brief dip below the average followed by a reclaim and hold.