Bitcoin long positions have had a nice breakout on the short-term chart these past few days—the hourly moving averages have been flipped to the upside for the first time in nearly 9 days. This is usually a good technical signal.

It is worth noting that the S&P 500 index also closed at a historical high last week, bringing a lot of positive sentiment to the entire risk asset market. Coupled with the bullish divergence appearing on the 3-day line of Bitcoin, it seems that long positions are indeed accumulating some good technical support.

However, speaking of which, today is Sunday, and the "plunge" in the crypto market comes just like that. Whether these seemingly favorable signals can persist still needs observation, but at least the current technical aspects are indeed worth paying attention to.