Bitcoin Achieves Historic 90-Day Uptrend, Indicating Bull Market Rally
- Bitcoin (BTC) has experienced a continuous upward trend for the past 90 days, a first in its history during a bear market.
- The price rebounded from lows below $60,000 in February to recent highs near $83,000.
- Analyst Matthew Hyland noted that this rally is characteristic of a bull market rather than a bear market.
- For confirmation of bullish momentum, analysts suggest reclaiming the weekly supertrend around $90,000.
- Historically, previous BTC bear markets ended with significant weekly gains exceeding +20% and breaking above the supertrend.
The recent performance of Bitcoin highlights its resilience as it continues to defy previous bear market trends. Analysts emphasize that reclaiming key resistance levels will be crucial for confirming sustained bullish activity.
With Bitcoin’s price rising significantly over the past three months and approaching critical resistance points, the current uptrend could signify a shift towards a more bullish market environment.(Source)
