Bitcoin Tests $82K Resistance as Bulls Look to Extend Recovery

Bitcoin's price has been steadily increasing over the past week, reaching above $81.5K and testing the key resistance level of $82K.

The cryptocurrency has gained nearly 6% in the week ended Sep. 20, with a significant recovery from the $75,000 area seen earlier in the month.

According to Galaxy Research Head of Firmwide Research Alex Thorn, Bitcoin's reclaim of the 50-week moving average is historically a positive indicator for the market, suggesting that bear-market lows are likely in.