Bitcoin climbed to $80,665, extending a rally that has lifted the asset 25.8% over the past 90 days, according to CoinGecko data. The cryptocurrency has also held above $74,000 for 30 consecutive days.

The advance came despite a Federal Reserve rate hike and delays in regulatory progress, and it has reignited debate among analysts over whether the market has entered a new bull phase. Several traders are pointing to key technical levels on the weekly and monthly timeframes, while others urge caution before calling a trend reversal.

Among the markers cited by bulls: Bitcoin has reclaimed its 50-week moving average near $78,700, a level that analyst Doctor Profit says has marked the start of bull markets in five of seven historical cases. Traders including Ted and Ash Crypto want to see Bitcoin clear the $83,000 area before confirming a full trend reversal. A green September close, meanwhile, would mark three straight green monthly candles, a formation that has never appeared during a bear market.

Bitcoin Reclaims Its Key Weekly Moving Average

Crypto analyst Ted noted that Bitcoin reclaimed its 50-week moving average near $78,700. Historically, this level has signaled the start of a bull market in five of seven cases. The reclaim has therefore drawn close attention from market observers. The 50-week moving average tracks the average of Bitcoin's weekly closing prices over roughly the past year — a long enough horizon that technical analysts often treat it as a dividing line between broader downtrends and recoveries.

Ted commented on the move in a post on X on September 20, 2026. He stated that Bitcoin is back around the $80,000 level and that a weekly close above the 50-week moving average is the key event of the week. If that happens, he argued, the case for a cycle bottom will get stronger.

$BTC is back around the $80,000 level. The most important thing this week is a close above 50W MA. If that happens, the case for a cycle bottom will get strong. pic.twitter.com/zt2Hi5kzsH

— Ted (@TedPillows) September 20, 2026

Meanwhile, Ted is watching for a break above $83,000 as confirmation. That target sits above the $78,700 moving average cited by Doctor Profit. Ash Crypto takes a more measured view of the same level, arguing that a sustained push past that resistance is needed before declaring a full turnaround.

Skeptics, on the other hand, remain wary of the current rally. They warn that the Bitcoin price could drop to $60,000 if key supports fail. Their concern is that buyers may fail to defend those support levels — a view that contrasts with the optimism seen among other market participants. With Bitcoin trading between the reclaimed moving average near $78,700 below and the $83,000 confirmation level above, both camps are working from the same chart levels and reaching opposite conclusions.

Bitcoin Holds Firm as Monthly Signals Emerge

Elite Crypto described the past week as an eventful one for Bitcoin in a post on X. The analyst listed a series of macro headwinds: the CLARITY Act failed in the Senate, the Federal Reserve raised rates, the Bank of Japan hiked rates, the DXY — the US Dollar Index, which tracks the dollar against a basket of major foreign currencies — reclaimed the 100 level, and oil prices pushed higher.

Bitcoin has had one hell of a week.

• CLARITY Act failed in the Senate
• Fed hiked rates
• Bank of Japan hiked rates
• DXY reclaimed 100
• Oil prices are pushing higher

Pretty much every macro headline has been throwing fuel on the risk off narrative. Yet BTC is still…

— Elite Crypto (@TheEliteCrypto) September 20, 2026

According to Elite Crypto, those headlines fed a risk-off narrative. Even so, the Bitcoin price kept trading above $80,000. The post asked whether Bitcoin is becoming more resilient to macro headwinds, or whether the market is simply waiting for its next catalyst.

Separately, analyst Wealthmanager focused on the monthly chart in a post on X. Bitcoin has turned green for September, with 10 days remaining in the month. A green September close would give the asset three consecutive green monthly candles — a formation that, historically, has never appeared during a bear market. Wealthmanager said such a close could signal a shift to a bullish market regime. A monthly candle reflects where Bitcoin opened and closed across an entire calendar month, the timeframe long-horizon traders use to filter out shorter-term swings.

The observation relies on past monthly chart data for Bitcoin, and the remaining days could still change the candle's final color. In other words, the signal will only take shape if the monthly candle closes green.

Originally reported by Blockonomi.