BTC flashes buy signal as bull run hinges on breaking $65K-$80K resistance

A reliable buy signal has been observed for Bitcoin as its long-term Moving Average Convergence Divergence (MACD) histogram has turned positive, CoinDesk reported. However, the outlet added that a breakout above the key resistance zone between $65,000 and $80,000 is crucial for a full-fledged bull market to begin. According to the analysis, a positive turn in the long-term MACD histogram indicates that Bitcoin's recent rally has further upside potential, noting the indicator has shown relatively high reliability since the cryptocurrency's sharp decline from its all-time high. Key resistance levels within the $65,000-$80,000 range include: - The 50-day simple moving average (around $65,434) - The previous high (around $67,292) - The 200-day moving average (around $71,147) - The strike price with the highest open interest in the options market (around $80,000) A breakout above these levels could initiate a new bull market, CoinDesk explained.