Market Analysis & Trends - Bitcoin closed above the bull market support band, a crucial indicator for maintaining the current cycle [2][3] - Staying above the 50-week moving average is vital for the bull market's integrity; the 50-week moving average is approximately $13,000 [6][8] - Bitcoin dominance has been slowly trending higher, moving from 57% to 59% over the past month and a half [17] - A break above 60% Bitcoin dominance could trigger a significant surge [18] Key Levels & Indicators - The 20-week SMA is around $13,400, and Bitcoin closed the week at $13,550 [8] - Watching for weekly closes below prior highs, especially around $125,000 if new all-time highs are reached, is crucial for identifying potential market turning points [16][22] External Factors - Speculation about the Federal Reserve potentially ending quantitative tightening may be influencing Bitcoin dominance [9][10]
Bitcoin Bull Market Support Band
Benjamin Cowen·2025-10-27 05:01