Trader Doctor Profit said on X that Bitcoin has moved back above its 50-week moving average, currently around $78,700, and that a weekly close above the level would serve as confirmation of a new bull market in his view. He compared the current setup with the 2022-2023 structure, when Bitcoin spent several weeks facing resistance, went through what he described as a bear trap, and then reclaimed the same moving average. Doctor Profit added that Bitcoin has historically fallen below and then recovered the 50-week MA seven times. According to his count, five of those cases led to bull markets, while two turned into false breakouts in 2011 and 2020. He said Bitcoin remains within a $71,000 to $82,000 range, and that a move through the $82,500 to $83,000 area would offer stronger confirmation. His personal strategy, he said, remains unchanged: keep holding spot BTC and target $88,000 after the remaining resistance is cleared.
According to ChainCatcher, well-known trader Doctor Profit said in a post on X that Bitcoin has broken above its 50-week moving average, or MA50, which currently sits at about $78,700. He said that if Bitcoin can close this week above that line, he would treat it as confirmation that a new bull market has begun.
Current setup compared with the 2022-2023 structure
Doctor Profit said the present price structure resembles the pattern seen from 2022 to 2023. In his description, Bitcoin spent several weeks facing resistance, went through a "bear trap," and then climbed back above the 50-week moving average.
Seven historical recoveries of the 50-week moving average
He added that Bitcoin has fallen below and then reclaimed the 50-week moving average seven times in its history. In five of those instances, a bull market followed. The other two, he said, were false breakouts that occurred in 2011 and 2020.
Focus on the $82,500-$83,000 area
Doctor Profit said Bitcoin is still trading within a range of $71,000 to $82,000. A break above the $82,500 to $83,000 zone would provide stronger confirmation, he said, and the move back above the 50-week moving average suggests that such a breakout could come in the next few days.
Spot holdings strategy remains unchanged
He said his personal strategy has not changed. He plans to continue holding spot Bitcoin and is targeting $88,000 after the remaining resistance is broken.
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