Bitcoin is starting to look different.
$BTC has moved above $86,000 and is now trading above the previous May high of around $82,850.
For months, Bitcoin kept making lower highs. Every major bounce was followed by another move lower. That pattern is now changing.
Bitcoin has recovered strongly from the $57,800 area and is now breaking above an important previous high. This could be a sign that the long downtrend is losing strength.
$BTC is also holding above its 50-week moving average, another level that has been important during previous market cycles.
#Macro Insights#
$BTC has moved above $86,000 and is now trading above the previous May high of around $82,850.
For months, Bitcoin kept making lower highs. Every major bounce was followed by another move lower. That pattern is now changing.
Bitcoin has recovered strongly from the $57,800 area and is now breaking above an important previous high. This could be a sign that the long downtrend is losing strength.
$BTC is also holding above its 50-week moving average, another level that has been important during previous market cycles.
#Macro Insights#
