Attached is the heat map of the Bitcoin (BTC) price concerning the 200-period moving average. This indicator uses a heat map represented in colors, based on the percentage increase or decrease of the price regarding the 200-period moving average. Depending on the price movement, a color is assigned, ranging from purple to red. Historically, when we observe the price entering the orange or red zone, it has been a good time to sell (overheating). Conversely, when the price enters the purple zone or crosses the 200-period moving average down, as is the case here, it has been a good time to buy and has marked the beginning of bullish behavior in the price. Source: lookintobitcoin.com. We will keep you updated on further developments.
Chart – BTC Projection (08-22-2022)