Bitcoin Signals Bullish Recovery as Key Moving Averages Align

Bitcoin is showing strong technical signals of a potential price surge as it trades above key moving averages. The 50-week SMA stands at $74,890, while the 20-week SMA is around $91,070—historically reliable support levels in past bull markets. Bitcoin’s price remaining above these indicators suggests sustained bullish momentum.

A significant development is the 20-week SMA crossing above the 50-week SMA, forming a bullish crossover. Similar setups preceded major rallies, including Bitcoin’s 2021 surge. Additionally, BTC is holding above the 100-week SMA at $54,930, reinforcing upward momentum. The next resistance level sits at the 8-week SMA of $98,960, and a breakthrough could push prices toward the highly anticipated $100,000 mark.

Long-term support remains strong, with the 200-week SMA at $44,580—historically a key recovery point during bear markets. The widening gap between the current price and this level highlights Bitcoin’s bullish outlook. If BTC maintains its stance above the 20-week and 50-week SMAs, further gains could follow.

Despite the positive trend, traders should remain cautious as Bitcoin’s volatility persists. Any retracement could test support levels, but continued strength above these key moving averages may signal an extended bull run. If Bitcoin respects these indicators, it could soon challenge six-figure territory.