The article highlights that Bitcoin is showing signs of a price recovery based on technical indicators. The longer-term moving averages are slowly progressing, with the weekly moving average chart indicating that Bitcoin is moving above the 50-week SMA and the 20-week SMA. In previous bull markets, the 20-week SMA has acted as a reliable level of support for additional price growth. The 200-week SMA also serves as an important macro-level support. Bitcoin has historically recovered from this moving average during bear markets, demonstrating its sound fundamentals. The widening gap between the price and the 200-week SMA further supports Bitcoin's long-term bullish outlook. A bullish crossover has occurred with the 20-week SMA surpassing the 50-week SMA, which has preceded protracted uptrends in the past. Bitcoin's trading above the 100-week SMA and the eight-week SMA is the next resistance level. If Bitcoin remains above these moving averages, it may target the $100,000 mark. Overall, market sentiment is positive, but volatility should still be monitored.



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