Bitcoin Price breaks through the critical point of resistance level , which has historically been crossed by major transactions such as bull market

Bitcoin closed above the 50-week moving average in the week ending September 20, for the first time since last 45 weeks. Industry insiders believe that confirmation of a round-trip level is often more meaningful than a brief touch, signaling or indicating that the previous downward phase has ended.

What does breaking the perimeter mean?

According to Alex Thorn, head of Galaxy Research, the closing above the 50-week average could be an important confirmation signal that the bear market phase may have ended and a new uptrend is forming.

The difference between the two is that while Bitcoin trades continuously all day and night, candlestick chart closes at 23:59 UTC on Sundays, immediately after which a new one opens. Analysts typically place more emphasis on weekly or daily stops above important equinoxes rather than just short crosses. This time around, the week of Bitcoin , candlestick chart , came to an average instead of merely experimenting with them.

Why the 50-Week Average Matters

The 50-week moving average is simply the average of closing prices for each week over the past year or so. In market analysis, it is often used as a benchmark to gauge long-term trends in Bitcoin . Maintaining this position can be seen as key to judging medium and long term strengths and weaknesses.

The backlash continues

Over the past week, Bitcoin has risen by almost 6%, hovering around $81,000 with a cumulative rebound of 29% over the last 35 days. This rally pushed Week candlestick chart overall above its 50-week average and formed a clearer technical signal.

(Source: TradingView charts and related analysis by Galaxy Research)

Warning signsNote: This article is for general information only and does not constitute any investment advice. crypto asset Prices fluctuate wildly, please carefully assess your risk tolerance.