Bitcoin Is Back on the Right Track, Analyst David Cox Says

Source: CryptoNewsNet Original Title: Bitcoin Is Back on the Right Track, Analyst David Cox Says Original Link: Bitcoin (BTC) is pushing against a critical technical ceiling in the $93,500 to $94,000 zone.

This level has been identified as the pivotal line by market analyst David Cox, CMT, CFA.

In a recent update, Cox noted that the underlying trend indicators on the daily chart are changing decisively in favor of the bulls.

Moving average turning up

Cox pointed to a specific bullish stacking of moving averages as evidence of returning momentum.

According to the analyst, the daily chart now reflects a structure where the shorter-term averages have crossed above the longer-term trend lines:

• The eight-day exponential moving average is trading above the 20-day EMA
• Both are situated above the 50-day simple moving average
• The spot price has reclaimed its position above the 50-day SMA, a dynamic often viewed as a prerequisite for sustained rallies

“Averages are turning up,” Cox noted. “On the daily chart, you can see 8EMA > 20EMA > 50SMA, and the price is back above the 50-day.”

Macro structure remains intact

Despite the friction at $94,000, Cox urged traders to maintain a broader perspective, noting that the longer-term charts are showing higher highs and lows.

The analysis argues that a clean break above this $94,000 resistance band could clear the path for a retest of the psychological six-figure levels discussed by market participants.