Why Bitcoin Breaking $85,000 Right Now Looks So Familiar to Analysts
- Bitcoin clears key $85k resistance, adding weight to historical bull run parallels
- Breakout happens as weekly MA50 holds support & RSI pushes >70, echoing past cycles
- Analysis suggests BTC may be following established multi-year bull ‘blueprint’
Bitcoin demonstrated decisive strength Saturday, pushing firmly above the critical $85,000 resistance zone to trade near about $85,050. This technical breakout appears sustained by consistent buying interest, occurring as market patterns closely resembling previous Bitcoin bull cycles continue to develop.
Market data confirms Bitcoin has overcome significant overhead resistance while maintaining key underlying support levels.On-chain flow indicators simultaneously suggest renewed accumulation and diminished selling pressure on major exchanges.
Why Bitcoin’s Weekly MA50 Support & RSI Action Are Key Signals
Technical analysis shared by market observer Ash Crypto points out two key indicators that traders monitor closely on Bitcoin’s weekly chart, the 50-week moving average (MA50) and the Relative Strength Index (RSI) near the 44 level.
The post Why Bitcoin Breaking $85,000 Right Now Looks So Familiar to Analysts appeared first on Coin Edition.
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Why Bitcoin Breaking $85,000 Right Now Looks So Familiar to Analysts
- Bitcoin clears key $85k resistance, adding weight to historical bull run parallels
- Breakout happens as weekly MA50 holds support & RSI pushes >70, echoing past cycles
- Analysis suggests BTC may be following established multi-year bull ‘blueprint’
Bitcoin demonstrated decisive strength Saturday, pushing firmly above the critical $85,000 resistance zone to trade near about $85,050. This technical breakout appears sustained by consistent buying interest, occurring as market patterns closely resembling previous Bitcoin bull cycles continue to develop.
Market data confirms Bitcoin has overcome significant overhead resistance while maintaining key underlying support levels.On-chain flow indicators simultaneously suggest renewed accumulation and diminished selling pressure on major exchanges.
Why Bitcoin’s Weekly MA50 Support & RSI Action Are Key Signals
Technical analysis shared by market observer Ash Crypto points out two key indicators that traders monitor closely on Bitcoin’s weekly chart, the 50-week moving average (MA50) and the Relative Strength Index (RSI) near the 44 level.
The post Why Bitcoin Breaking $85,000 Right Now Looks So Familiar to Analysts appeared first on Coin Edition.
Read More
Is Bitcoin’s Bull Run Confirmed? Not Until It Clears This $88k Hurdle