Wellington-Altus Strategist James E. Thorne Says Bitcoin (BTC) Held Its Rising 200-Week Average
Key Takeaways
- •Wellington-Altus chief market strategist James E. Thorne published a report on Saturday, October 3, contending that Bitcoin's weekly chart has held its rising 200-week moving average.
- •Thorne frames the hold as a successful defense of long-term support rather than the launch of a fresh breakout.
- •The 200-week moving average averages nearly four years of Bitcoin price data and is used to assess whether the asset's multi-year uptrend remains intact.
- •Bitcoin's price previously fell to, and at times briefly below, the 200-week moving average during the bear market cycle lows of 2018 and 2022.
- •The indicator recalculates with each weekly close, so the support level cited is a moving benchmark that shifts as new price data arrives.
Wellington-Altus chief market strategist James E. Thorne has published one of the strongest long-term readings of Bitcoin (BTC) to surface this week — and the formation at the center of his argument is a defense rather than a breakout.
In a report out Saturday, October 3, Thorne contends that Bitcoin's weekly chart has held its rising 200-week average. In his framing, the development is not the launch of a fresh breakout, but evidence that a key long-term support level has been successfully defended.
Why the 200-Week Moving Average Matters
The 200-week moving average is one of the most closely watched long-term trend indicators in Bitcoin analysis. It is calculated by averaging Bitcoin's price over the previous 200 weeks — a span of nearly four years — smoothing out short-term volatility to show whether the asset's multi-year uptrend remains intact. Because it is derived entirely from past prices, it functions as a trend-following reference point: it describes how the multi-year trend is behaving rather than projecting where price will go, which is why analysts typically read a test of the level as a check on trend health.
Historically, Bitcoin's price has fallen back to — and at times briefly below — its 200-week moving average during the deepest phases of past bear markets, including the cycle lows of 2018 and 2022. Against that backdrop, a rising 200-week average that holds as support is often treated by long-cycle analysts as a marker of structural trend strength rather than a short-term trading signal. The indicator also recalculates with each new weekly close, so the level Thorne cited is a moving benchmark that shifts as fresh price data arrives.
The Strategist Behind the Call
Thorne serves as chief market strategist at Wellington-Altus, an independent Canadian wealth-management firm, where he produces market strategy research on macroeconomic conditions and long-term trends across asset classes.
This article was first published on COINOTAG: https://en.coinotag.com/wellington-altus-thorne-bitcoin-200-week-average-bull-case
