May 15, 2025
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Bitcoin and Strategy Show Bullish Crossover Indicating Market Uptrend
Technical analysis summary by CoinDesk analyst Omkar Godbole.
Recent price charts for BTC and MicroStrategy (MSTR) indicate potential bullish market conditions:
- Both BTC and MSTR's 50-day simple moving averages (SMA) have crossed above their 100-day SMA, signaling a bullish crossover.
- This crossover suggests the short-term trend is outperforming the long-term trend, indicating the possible start of a major bull market.
- BTC's bullish crossover aligns with other indicators like MACD, suggesting upward momentum.
- A drop below $100,000 remains a possibility as on-chain data reveals caution among significant market players.
- Currently, BTC's price is ranging between $101,000 and $107,000; a break below this could lead to increased profit-taking, pushing support down to $98,000.
