Bitcoin Tests Bullish Territory Above $115K, but Broader Trend Still Negative
Bitcoin (BTC) continues to trade near $115,000 after reclaiming its 50-day simple moving average (SMA) — a technical milestone that often marks the start of a short-term upswing. The move comes as traders prepare for this week’s Federal Reserve meeting, where expectations are leaning toward a rate cut.
The price action is supported by improving chart signals. The daily MACD histogram has flipped positive with a bullish crossover, while shorter-term moving averages — the 5-day and 10-day SMAs — have also turned upward, indicating increasing buying momentum.
Market sentiment has been buoyed by anticipation of a more accommodative Fed stance and renewed progress in U.S.–China trade talks, both factors helping to lift risk assets more broadly.
Still, the broader technical backdrop remains uncertain. The CoinDesk Bitcoin Trend Indicator (BTI) continues to register a bearish reading, suggesting that the recovery lacks confirmation from longer-term momentum measures.
On the daily timeframe, BTC remains below the Ichimoku cloud, which continues to act as a significant overhead barrier. Analysts say a sustained close above that zone would mark a genuine trend reversal and could open the path toward $120,000 or higher.
Until then, Bitcoin’s climb appears more like a stabilization phase than the start of a full-fledged rally — with this week’s FOMC decision likely to determine whether the breakout gains traction or fades back into consolidation.
