Bitcoin has retaken a critical technical level that has historically signaled bullish momentum in the cryptocurrency market. The 50-week Simple Moving Average (SMA), often known as the ‘bull market baseline’ by traders, has served as robust support since early 2023. 📈 As of press time, Bitcoin is trading at around $111,200, showing modest daily gains while still down over the past week. However, this recent activity shows potential for a renewed upward trajectory. Merlijn The Trader highlights on Twitter that each time Bitcoin has tested this support since 2023, it’s led to new highs. This suggests that the line is becoming increasingly important as a turning point.