Analyst Vincent Ganne proposes a comprehensive technical analysis of bitcoin by combining three indices: the spot price, BTC futures contracts on the CME, and BlackRock’s BTC ETF (IBIT). The cyclical bear market reached its bottom on July 1 at $57,750, confirmed by a bullish price-momentum divergence and a 78.6% Fibonacci retracement. The crossing of the 200-day moving average in August validates the bullish reversal, with this average now serving as support. An inverse head and shoulders pattern is forming with technical resistance at $82,800. As long as bitcoin remains above its 200-day moving average, the cyclical bullish trend remains confirmed.
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