Bitcoin Bull Market Confirmation Will Be Completed Once This Level Is Reclaimed, Analyst
Bitcoin is testing a key technical level that could signal the start of a new bull market, according to analyst Crypflow. The focus is on the "bull-bear ribbon," formed by the 21-week moving average (21 WMA) and the 21-week simple moving average (21 SMA) on a two-week chart. Historically, a crossover where the 21 WMA moves above the 21 SMA has confirmed bull markets, while the opposite crossover has confirmed bear markets.
Bitcoin recently experienced a bear market confirmation in 2025 after its peak above $126,000. Currently, the price is attempting to push back into this critical ribbon but faces rejection at the 21 WMA, located around $81,974. Although BTC briefly touched $82,000 last week, it has since pulled back, trading near $76,914 at the time of writing and remaining below both moving averages. According to the analyst, a sustained reclaim of the 21 WMA is needed to begin the next bull market confirmation phase.
bitcoinist05/19 03:32
