Bitcoin’s Bullish Ballet: Cox Says It’s Time to Waltz Past $94K 🕺💸

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Ah, Bitcoin (BTC), that fickle darling of the digital realm, is once again tiptoeing toward a precipice-this time, the $93,500 to $94,000 chasm. 🌋 A chasm, you say? Nay, merely a puddle for the bulls, according to the ever-optimistic David Cox, CMT, CFA. 🧐

In his Monday musings, Cox-a man who reads charts like a Chekhov reads souls-proclaimed the daily trend indicators are “decisively bullish.” 🌞 One can almost hear the moving averages whispering sweet nothings to each other as they stack in perfect harmony. 🎶

Moving Averages: A Tragicomic Romance

Cox, with the precision of a surgeon and the drama of a playwright, highlights the “bullish stacking” of these averages. The 8-day EMA, smitten with the 20-day EMA, has crossed above it, and both now gaze adoringly at the 50-day SMA. 🥰 “Averages are turning up,” Cox penned, as if they were characters in a farcical ballet. 🩰

And lo, the spot price-that fickle protagonist-has reclaimed its throne above the 50-day SMA. A prerequisite for sustained rallies, they say. Or perhaps just another act in this endless drama? 🎭

The Macro Structure: A Comedy of Errors

Yet, amidst this technical tango, Cox reminds us to zoom out. The “longer charts,” he notes, are a tale of “higher highs and lows.” 📈 A clean break above $94,000, he suggests, could pave the way for a retest of six-figure glory. 🤑 But let us not forget, dear reader, that resistance is not just a technical term-it is the very essence of life. 🧱

So, as Bitcoin pirouettes on the edge of this so-called “critical ceiling,” one must wonder: is this the dawn of a new bull run, or merely another act in the grand tragicomedy of markets? 🌅 Only time-and perhaps Cox’s next update-will tell. 🕰️

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2026-01-05 23:34