Has Bitcoin Confirmed a New Bull Market?
Key technical milestones
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Bitcoin Flips The Macro Downtrend Into Support
Starting on the Monthly, the April-May highs at $76,330 (blue horizontal) have been the level in focus, with Bitcoin breaching beyond them last month via a Monthly Close.
That Monthly Close came above the April-May highs but below the Macro Downtrend (black trendline).
But because the Macro Downtrend is a dynamic resistance, it represented lower prices this month and the Downtrend became picture-perfectly confluent with the April/May 2026 highs.
As a result, turning both into new support was going to be pivotal in transitioning price into new Macro Higher Highs.
The retest has been successful.
This is technically a brand-new macro Higher High, arriving after a series of macro Lower Highs that has stretched across almost a year.
Both the April-May highs and the Macro Downtrend have now been turned into new support, but what's quite interesting is how the downtrend was flipped.
It was never technically broken as a resistance.
Instead, Bitcoin moved sideways and, by virtue of time alone, edged out beyond the downtrend before turning it into new support.
And seeing as the Macro Downtrend is a dynamic level of support or resistance, it is now set to act as one of support.
From here, attention shifts to $82,530 (second blue horizontal, Range High), a level that has been a rejection zone earlier this year, a weakened support in late 2025, and a trend reversal zone in early 2025.
Bitcoin is now pressing beyond it, and a Monthly Close above the Range High would position price for a Post-Breakout Retest and a reclaim, to then rally higher.
Meanwhile, turning both the Macro Downtrend and the April-May highs into new support is a significant technical transition, one that could build out the April-May highs as a key Range Low support.
That support looks to have been solidified as one of demand, so the question now becomes how Bitcoin treats the Range High.
Will price Monthly Close above it, or will Bitcoin produce an upside wick beyond $82,530, Monthly Close below it, and develop a Re-Accumulation Range here going into Q4?
That ranging moment is one of the scenarios to watch out for, which leaves one key question.
Can Bitcoin turn $82,530 back into new support before September ends?