Bitcoin's Weekly Chart Flips Bullish as 30-Week MA Turns Higher
Bitcoin's weekly chart has flipped bullish according to Wellington-Altus Chief Market Strategist James E. Thorne. He points to the two major moving averages, the 30-week and 40-week exponential moving averages, which have turned upwards since the June low. This, Thorne says, is a 'Super Cycle'.
The price has recovered since the decline from the 2025 peak found support at the 200-week average, which has kept the long-term uptrend intact, Thorne said. He also linked the setup to the GENIUS Act, tokenization, and the Federal Reserve's rate hike as a 'policy mistake'.
The calendar is also in Bitcoin's favor, Thorne said. Markets are entering the strongest part of the four-year presidential cycle, historically the best time for equity returns. Thorne also pointed to improving macroeconomic conditions, including productivity growth, wage growth, and manufacturing job growth, with inflation easing.
However, Thorne warned that leverage clusters are near the price, at $84,100, which could trigger forced liquidations if the price moves above it.