$BTC
Bitcoin has Weekly Closed above the 200-week EMA (black) for the second week a row
This 200-week EMA is a key confirmation trigger for additional downside
So by Bitcoin Weekly Closing above it, it is staving off bearish confirmation
However, this doesn't mean Bitcoin is now in the clear
In fact, in the absence of any meaningful upside from here going forward, there is a risk that BTC loses the 200-week EMA in time
History suggests price won't be able to produce much upside from this 200-week EMA before an eventual breakdown