Bitcoin just flashed a classic technical reversal: for the first time in 45 weeks, the crypto giant closed a weekly candle above its 50-week moving average (50W MA). Traders see this as a major milestone on the long-term chart.

BTC Breaks Above the 50-Week MA

Closing the week above the 50W MA means BTC is back above a key mid-term trendline after a long stretch below it. It’s the first time this has happened in 45 weeks, highlighting the strength of the current move.

Galaxy Digital’s Take

Alex Thorn, Head of Research at Galaxy Digital, points out that historically, Bitcoin’s first close back above the 50W MA during a bear market has often confirmed a cycle bottom. He cautions that history isn’t a guarantee, but says the move adds weight to the idea that this could be a bullish signal.