Is Bitcoin’s Bull Run Confirmed? Not Until It Clears This $88k Hurdle
- Bitcoin breaks $84k resistance, showing technical action similar to past bull runs
- Key weekly signals (MA50 support, RSI >70) align strongly with prior cycle history
- Analysts now watch daily close above $88k as key confirmation for this pattern
Bitcoin’s current cycle shows strong similarities to the structural resets seen in both 2017 and 2021.
Key market indicators, like the relationship between Bitcoin and market volatility (BTC/VIX ratio) and the total crypto market capitalization on weekly charts, are showing alignments similar to those seen near previous important market shifts. These past major price adjustments acted as more than just downturns; they effectively reset the market before subsequent major upward trends began.
The Bitcoin Script: How Past Crashes Historically Set Up New Highs
Looking at the bigger picture, Bitcoin’s price history reveals a repeating multi-year structure. Typically, strong upward legs driven by widespread excitement eventually end in steep price drops (historically sometimes over 80%-85% from the peak).
Following these major drops, were the q…
The post Is Bitcoin’s Bull Run Confirmed? Not Until It Clears This $88k Hurdle appeared first on Coin Edition.
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Is Bitcoin’s Bull Run Confirmed? Not Until It Clears This $88k Hurdle
- Bitcoin breaks $84k resistance, showing technical action similar to past bull runs
- Key weekly signals (MA50 support, RSI >70) align strongly with prior cycle history
- Analysts now watch daily close above $88k as key confirmation for this pattern
Bitcoin’s current cycle shows strong similarities to the structural resets seen in both 2017 and 2021.
Key market indicators, like the relationship between Bitcoin and market volatility (BTC/VIX ratio) and the total crypto market capitalization on weekly charts, are showing alignments similar to those seen near previous important market shifts. These past major price adjustments acted as more than just downturns; they effectively reset the market before subsequent major upward trends began.
The Bitcoin Script: How Past Crashes Historically Set Up New Highs
Looking at the bigger picture, Bitcoin’s price history reveals a repeating multi-year structure. Typically, strong upward legs driven by widespread excitement eventually end in steep price drops (historically sometimes over 80%-85% from the peak).
Following these major drops, were the q…
The post Is Bitcoin’s Bull Run Confirmed? Not Until It Clears This $88k Hurdle appeared first on Coin Edition.
Read More
Why Bitcoin Breaking $85,000 Right Now Looks So Familiar to Analysts