Bitcoin (BTC) and MicroStrategy (MSTR), the largest publicly traded holder of Bitcoin, have both flashed strong bullish signals that could point to the start of a significant uptrend.
To put it simply, imagine two influential newspapers both endorsing the same presidential candidate. Such joint support typically signals broad confidence in that candidate’s prospects.
In a similar vein, when price charts for Bitcoin and MSTR align with concurrent bullish signals, it suggests that both the market and major institutional players may be moving in sync.
Daily charts reveal that both Bitcoin and MSTR have experienced a bullish crossover: their 50-day simple moving averages (SMA) have crossed above their 100-day SMA. This crossover indicates that the short-term price trend is gaining momentum relative to the longer-term trend, often seen as a key signal that a major bull market could be underway.
Additional technical indicators, such as the MACD, support this optimistic outlook, pointing to a higher probability of upward price movement.
However, investors should remain cautious as an interim dip below the $100,000 mark cannot be ruled out. On-chain data indicate that some key market players have adopted a more cautious stance recently.
Currently, Bitcoin’s price rally appears to have stalled between $101,000 and $107,000. Should the price break below this range, it could trigger profit-taking and deepen the short-term pullback, potentially testing support near $98,000.
