Tom Lee, Wall Street analyst: “the trend of moving averages for 200 days is very important.”

When it comes to bitcoin bulls, there’s no one as optimistic as Wall Street analyst Tom Lee. In dozens of incidents over the past year, Lee claimed that the leading crypto asset was ready to exceed $ 25,000 despite downward market conditions, and still maintains this claim.

Tom Lee, Wall Street analyst: “the trend of moving averages for 200 days is very important.”

After a week break, Lee, currently managing director of Fonstrat Global Consultants, shared Krypto market forecasts. A leading analyst said Fundstrat, a founding partner, recently released a report that shows that bitcoin performs poorly when trading in narrow range below 200-day moving average (Ma). Lee adds to his statements::

People are too pessimistic… we know the market conditions are terrible, and we’re under our 200-day moving average. This week we published a report to draw attention to what Bitcoin is doing when our clients are below the 200-day moving average. According to this, when bitcoin is below its 200-day moving average, it rises in half of the time in the next six months. But when it rises above the 200-day moving average, it’s rising over 80 percent of the time in the next six months. For this reason, the trend of the 200-day moving average is clearly important.

Bitcoin’s 200-day moving average is currently at 7,200 dollar level

BitCo’s 200-day moving average is currently at $ 7,200. Again, taking advantage of its financial world experience, Tom Lee has revealed an interesting point of view and said that investors ‘ psychology will often give “100% probability for negative” as it approaches a bottom line. Seeing that the spread of Bear sentiment has increased rapidly, the expert said Bitcoin is likely to move upwards in the New Year.

The information contained in the article is for informational purposes only.

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