$BTC finally closed above the 50 week moving average
The weekly close came around $81,159 while the 50W MA was near $78,788. That's the first weekly close above it in 45 weeks
And this isn't just another moving average cross. Galaxy's historical study found that out of 13 similar weekly reclaims during major Bitcoin bear markets, only 2 were followed by another major low
Still not calling the bottom yet 😅
For me the important part starts now
$78.8K is the level I want to see defended. Above that, $83K and then $85K become the areas where BTC needs to prove this breakout has real strength
If BTC keeps building higher lows above the 50W MA, the market structure starts looking very different
The signal happened
Now let's see if price can actually confirm it 👀
#BTC
The weekly close came around $81,159 while the 50W MA was near $78,788. That's the first weekly close above it in 45 weeks
And this isn't just another moving average cross. Galaxy's historical study found that out of 13 similar weekly reclaims during major Bitcoin bear markets, only 2 were followed by another major low
Still not calling the bottom yet 😅
For me the important part starts now
$78.8K is the level I want to see defended. Above that, $83K and then $85K become the areas where BTC needs to prove this breakout has real strength
If BTC keeps building higher lows above the 50W MA, the market structure starts looking very different
The signal happened
Now let's see if price can actually confirm it 👀
#BTC
