Bitcoin has been trending up for 90 days, a historic move within its current market cycle that analysts are calling a 'bull market rally.' According to trader Matthew Hyland, this rally is distinct from typical bear market bounces, noting it has broken high time frame resistance and held above $77,000.
Since bottoming near $60,000 in late February, BTC has rallied to local highs around $83,000. Hyland emphasized there has never been a 90-day uptrend in a bear market in Bitcoin's history, suggesting the bottom is in.
Independent analyst Filbfilf says the next confirmation will come if Bitcoin reclaims the weekly supertrend line, currently near $88,000 to $90,000. A >+20% weekly candle breaking that level would signal the end of the bear market, similar to previous cycles.