Bitcoin Price Prints New Higher High as Bull Cycle Signals Strengthen

Bitcoin has seen a significant shift in sentiment over the past three months, transitioning from depression to euphoria. This change is reflected in its price action, which broke a six-month accumulation range and reclaimed the 50-week moving average. The cryptocurrency also printed a new higher high on weekly bullish divergence, echoing the pattern observed at the 2022 bottom.

The current price of Bitcoin sits within its Bollinger Bands, with upper resistance at $85,120.0 and lower support at $83,007.12. On the four-hour chart, the EMA50 ($83,481.26) is acting as immediate support above the EMA200 ($78,945.89). The Relative Strength Index (RSI) is in neutral territory at 48.68, while the Moving Average Convergence Divergence (MACD) still prints a death cross at -135.

As Bitcoin tests its upper Bollinger resistance with balanced momentum, a healthy retracement towards the 50-EMA support ($83,481.26) appears probable before continuation higher. This setup fuels BTC price prediction models and crypto market reversal narratives for the next quarter.