Recently, Bitcoin has been continuing its upward trend on a monthly basis, but interestingly, on a larger time frame, the historic pattern of consecutive declines still appears. Looking at the moving averages, the short-term and medium-term trends are diverging.

When examining the chart closely, you can see multiple moving averages overlapping, which is usually a sign that a trend reversal is approaching. The monthly moving average is still downward, but on the weekly chart, a rebound signal is emerging. The reason this period is intriguing is because it’s a zone where short-term gains and long-term declines are colliding.

Personally, I think the key is how the moving average alignment will develop. If the monthly moving average turns upward, that would truly signal a reversal, but if not, another correction could be on the horizon.