Bitcoin is facing the most important resistance of this cycle.
The 50-week moving average sits at $81,000, the line that has separated bull markets from bear markets throughout Bitcoin's history.
Bitcoin dropped 54% this cycle, less than the 2018 and 2022 crashes, but the trend hasn't flipped yet.
MACD, RSI, and Stoch RSI have all turned positive, which is an early bullish sign. But the real confirmation is $81,000.
Bitcoin needs to break and hold above the 50-week MA to enter bull territory. Until then, this is still a bounce inside a bear market.
Warsh speaks at Jackson Hole today. After the last three meetings, Bitcoin went on to rally through September.
The 50-week moving average sits at $81,000, the line that has separated bull markets from bear markets throughout Bitcoin's history.
Bitcoin dropped 54% this cycle, less than the 2018 and 2022 crashes, but the trend hasn't flipped yet.
MACD, RSI, and Stoch RSI have all turned positive, which is an early bullish sign. But the real confirmation is $81,000.
Bitcoin needs to break and hold above the 50-week MA to enter bull territory. Until then, this is still a bounce inside a bear market.
Warsh speaks at Jackson Hole today. After the last three meetings, Bitcoin went on to rally through September.
