Alex Thorn: 50-Week Signal Says Bitcoin’s Bottom is In

Galaxy's Alex Thorn calls the Bitcoin bottom, pointing to the 50-week moving average reclaim, resilience at $80K, and why being long is now contrarian. Galaxy’s new research note opens with a blunt call: “We believe the bottom is in.” Alex Thorn breaks down the evidence, starting with the fact that regaining the 50-week moving average after 20+ weeks below it has never been followed by a new low. He explains why Bitcoin’s resilience around $80K matters and why he thinks it’s contrarian to say long Bitcoin right now. Chapters: 00:00 Bitcoin at $81K After the Fed: Is the Bottom In?

Also reported by CoinTurk News.

Source: Bitcoin Magazine