Bitcoin Bull Market Engaged? 50-Week Moving Average Flips Bullish

Bitcoin Magazine

Bitcoin Bull Market Engaged? 50-Week Moving Average Flips Bullish

Bitcoin just closed a weekly candle above its 50-week simple moving average for the first time this cycle, and Sean Hagan puts roughly 80% confidence on this being a genuine regime change. In this Chart of the Day, he and Grace Remington break down why this indicator has historically marked the line between bull and bear regimes, what one additional weekly close would confirm, and the only two times in Bitcoin’s history the signal didn’t hold. With Bitcoin up nearly 10% on the week and pushing through $86K, the timing lines up almost exactly with the one-year window from all-time high to cycle bottom.

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This post Bitcoin Bull Market Engaged? 50-Week Moving Average Flips Bullish first appeared on Bitcoin Magazine and is written by Patrick Green.