Bitcoin is sitting just below a key signal that could confirm the bear market is over, which would be good news for crypto holders.

• The old support and resistance lines from 2009 no longer work because the last bull market failed to hit its expected $135-150K target.
• A weekly moving average indicator is the main thing to watch now, and it has correctly called every Bitcoin top and bottom since 2011.
• Two things need to happen to confirm a new bull market: the short-term average has to cross above the long-term one, and Bitcoin has to close a weekly candle above roughly $86,000.
• Neither has happened yet, but the lines are turning upward and Bitcoin is holding support around $60-69K, which used to be resistance in the last cycle.
• Silver and gold pulled back, which dragged Bitcoin down a bit too, since they tend to move together.

Outlook: If both signals trigger, Bitcoin likely starts a new bull run; until then, more sideways action or a retest of the lows is possible.