Bitcoin Technical Outlook: BTC/USD Major Breakout Signals Crypto Winter May Be Over
A 50% surge from the yearly low has transformed Bitcoin’s technical backdrop, with bulls now targeting the next major hurdle at the yearly open.
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Bitcoin Technical Outlook: BTC/USD Multi-Timeframe Analysis
Bitcoin's crypto winter may be over, with this decline running 37 weeks against the 52 and 54-week spans of the two previous ones. Michael Boutros, StoneX Media Senior Market Analyst, walks through the weekly, daily and monthly Bitcoin picture and explains what the strongest momentum reading of the year does and does not confirm. Bitcoin closed back above its 52-week moving average for the first time in 44 weeks, the same signal that appeared before the 2023 advance. Weekly momentum now matches the reading last seen when the record high was set, a symmetry that cuts both ways. Roughly $1.4 billion of Bitcoin ETF inflows across two sessions, fresh corporate treasury buying and a short squeeze all fed the move, while the daily chart stays in overbought condition.
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Written by Michael Boutros, Senior Technical Strategist
Follow Michael on X @MBForex
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