How far Bitcoin's price currently sits above its 200-week moving average — the deepest long-term trend line. Bitcoin has never entered a new cycle low without first coming close to this level. Near 0% is historically the definition of a bear market floor.
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The 200-week moving average (200WMA) is the average Bitcoin closing price over the last ~1,400 days — roughly 3.8 years. It moves very slowly and represents Bitcoin's deepest long-term trend. This indicator shows how far, in percentage terms, the current price sits above that baseline.
Why 200 weeks? The 200WMA is slow enough to filter out every cycle's noise and capture only the structural growth trend. Because Bitcoin has a hard-coded 4-year halving cycle, the 200WMA acts as a kind of gravity well that price orbits around across full cycles.
The three dashed lines on the chart mark the 0%, 100%, and 300% levels. Notice how cycle bottoms have historically formed near the 0% line, and cycle peaks near or above the 300% line. This visual rhythm is one of the most consistent patterns in Bitcoin's price history.
Pair with the Rainbow Chart for a logarithmic regression perspective on the same long-term trend story.