CAN BITCOIN MIRROR GOLD'S RECORD RUN BY YEAR-END?

The Bitcoin market is witnessing renewed optimism after a turbulent few weeks.

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The world's largest cryptocurrency has shown a strong rebound, attempting to reclaim upward momentum following recent volatility. Traders are closely watching today's daily close, which could determine whether Bitcoin's latest rally continues or faces rejection.

Bitcoin's price pattern has begun forming higher lows at the time of writing, a classic bullish indicator. Around the $108,000 level, BTC recently demonstrated strong price action: breaking through resistance, retesting it successfully, and climbing higher. This suggests that the asset's underlying trend may be turning positive once again.

Technical Indicators Point to Sustained Bullish Momentum

Crypto analyst Austin Arnold from Altcoin Daily believes that several key technical indicators continue to reinforce Bitcoin's bullish outlook. He points out that Bitcoin remains well above its 200-day moving average (DMA), a critical long-term signal separating bull markets from bear phases.

“As long as Bitcoin trades above its 200-day moving average, we remain in a bull market,” Arnold noted. He further highlights the 50-week moving average as a crucial support zone that historically marks cycle bottoms. Even during recent sharp pullbacks, Bitcoin has managed to bounce back from this level, maintaining its long-term structure. Arnold considers these dips strong accumulation opportunities for long-term investors.

Macro Factors Resemble Bitcoin's 2020 Bull Run Setup