Bitcoin (CRYPTO: BTC) remains structurally bullish after reclaiming a key monthly average, according to a prominent technical analyst.
Market Structure Matters Most
In a detailed X post on May 13, pseudonymous analyst Scient said the monthly 50 moving average (MA) holding as support was the first major trigger that flipped his macro-outlook bullish, prompting spot Bitcoin accumulation around $68,000 before turning fully bullish near $72,000.
Bitcoin’s reaction around the monthly 50MA has historically defined broader market structure across cycles:
- 2018: BTC held the monthly 50MA and continued higher after retesting it during the 2020 crash.
- 2022: Bitcoin lost the …