Bitcoin: Bull Cycle Starts After Weekly Breakout

Bitcoin has confirmed its bear market bottom through a weekly bullish divergence followed by a decisive breakout that took out the prior high, according to Michaël van de Poppe.

The trader notes that social-media fears of a Black Monday crash clash with market data that mirrors the 2022 bear-market floor, where similar divergence preceded the uptrend; price holding above the $76-80K zone now signals the new bull cycle has begun, with parallel strength appearing in many altcoins.

At $84560.85, Bitcoin tests the upper Bollinger Band resistance at $84028.42 while the 50-EMA at $82459.22 and 200-EMA at $82097.85 sit as layered support beneath; the MACD golden cross at 409.67 reinforces trend strength even as RSI at 68.88 remains neutral, suggesting any brief pullback would likely find bids at the 50-EMA before continuation higher.