Bitcoin's Recovery Tests Crucial Resistance

Bitcoin's recovery above its major weekly moving averages has improved the long-term technical picture for bulls.

The price of BTC has been trading between $77,700 and $79,500 on September 8, after retreating from the week's highs around $78,600.

Analyst Will Clemente notes that Bitcoin has historically not set new cycle lows after reclaiming all three weekly moving averages (20-, 50- and 200-week) for several consecutive weeks.

This precedent supports the case that the decline toward $57,000 in mid-2026 may have marked a durable bottom, but does not guarantee a straight-line recovery.

A decisive weekly close back below the reclaimed cluster, particularly the 50-week EMA near $77,400, would weaken the signal.