Was it bearish, but now it's been rising for 90 days?..."Bitcoin resembles a bull market rally"

▲ Bitcoin Bull vs Bear Argument

An analysis has emerged suggesting that Bitcoin (BTC)'s sustained upward trend for 90 days since its February low makes it difficult to view as an internal bounce within a bear market. It was explained that there has never been an upward trend lasting more than 89 days in past Bitcoin bear markets, and breaking through high-timeframe resistance was the starting point for three past bull market rallies.

Cointelegraph reported on May 22 (local time), citing an analysis by trader and analyst Matthew Hyland, that Bitcoin's recent rebound shows a pattern similar to a bull market rally, not a bear market rally. Hyland stated, “This BTC rally resembles a bull market rally, not a bear market rally.”

According to the article, Bitcoin has maintained a new upward trend since the last week of February. In early February, Bitcoin briefly fell below $60,000, reaching its lowest level since late 2024, but a rebound followed, and exactly three months after the February low, it reached a short-term high near $83,000.

Hyland said, “There has never been a rally in Bitcoin's history where an upward trend lasted for 89 days in a bear market.” He also considered the breakout of high-timeframe resistance as an important signal. He explained that in the past three instances, bull market rallies began after overcoming high-timeframe resistance. The attached chart suggests that Bitcoin broke through resistance by maintaining the price level after first breaking $77,000.

However, opinions also emerged that further confirmation is needed to consider the bull market as fully returned. Independent analyst Filbfilb analyzed that for bull forces to regain control, Bitcoin must reclaim higher resistance near the weekly Supertrend.

Filbfilb stated, “The last two Bitcoin bear markets ended with weekly bullish candles exceeding 20% and a breakout of the weekly Supertrend,” adding that this baseline is currently around $88,000. Cointelegraph reported that Bitcoin's weekly Supertrend is currently around $90,000, and the last time Bitcoin closed above the Supertrend on a weekly basis was in early November 2025.

Filbfilb said that if the current bearish trend fails, he anticipates the possibility of strong weekly bullish candles appearing rather than staying at the current price range for long. The Supertrend is a trend indicator calculated by combining the average true range and a multiplier.

Cointelegraph reported that Bitcoin recorded a 90-day upward trend for the first time ever within a bear market, and the breakout of $77,000 resistance and the recovery of the weekly Supertrend around $88,000 to $90,000 were presented as key criteria for confirming a future bullish reversal.

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