BTC 2-Year MA Multiplier: $79,676.63
Bitcoin's price against its two-year average price, and against that same average multiplied by five. Time spent below the lower line has marked past bottoms; time above the upper line has marked past tops.
Two reference lines drawn under the price: the average closing price of the last 730 days, and that same number multiplied by five. Between them sits the range Bitcoin has spent most of its life inside.
For example, if the two-year average is $70,000, the lower line sits at $70,000 and the upper line at $350,000. In past cycles the months the price spent below the lower line were the cheapest of that cycle, and the weeks **above** the upper line were within touching distance of the peak.
Most of the time the price sits between them and this chart is telling you nothing useful. What happened in past cycles **is not** a promise about this one.
In words: the average of the last 730 daily closing prices, drawn under bitcoin's price, plus a second line at five times that value.
A two-year average moves very slowly, so both lines trail badly after a fast move. The five-times multiplier is a **rule of thumb** fitted to old cycles, not a law — the last two cycles both peaked well short of it.
Own compute · full BTC price history 2010+ (no external API)