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Bitcoin, Strategy Confirm Concurrent Bull Cross, Strengthening Uptrend Signal: Technical Analysis
Bitcoin and MSTR both flashed a bullish signal, indicating a potential major uptrend.
May 15, 2025, 2:17 p.m.
What to know:
- Bitcoin and MSTR concurrently flashed a bullish signal, indicating a potential major uptrend.
- Other indicators support the signal, though a bull-market pullback remains possible.
This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Imagine two major newspapers both endorsing the same presidential candidate. The joint support indicates that the candidate probably has a broad backing.
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Similarly, when price charts for both bitcoin and Strategy (MSTR) — the largest publicly-listed BTC holder — show concurrent bullish signals, it’s likely a strong sign that the market and major institutional players are aligned.
Daily price charts for both BTC and MSTR show their 50-day simple moving averages (SMA) crossing above their 100-day SMA to confirm a so-called bullish crossover. It's a sign the short-term trend is now outperforming the longer-term trend, which could be a signal of the beginning of a major bull market.
BTC's bull cross is consistent with other indicators like the MACD, suggesting the path of least resistance is on the higher side.
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That said, an interim drop below $100,000 cannot be ruled out, as on-chain data show influential market participants have turned cautious.
The chart shows BTC's price rally has stalled in the $101,000-$107,000 range. A downside break could trigger more profit-taking, potentially deepening the bull market pullback to support at $98,000.
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Spot BTC prices were at times $300 pricier on Coinbase relative to Binance, suggesting the rally may be driven by heavy demand from American investors.
Bilinmesi gerekenler:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
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