Bitcoin (CRYPTO: BTC) got rejected by the 200-day moving average at $82,400 on Thursday, mirroring the exact pattern from the 2022 bear market when a similar bounce failed at the same technical level.

Same Rejection Pattern As 2022 Bear Market

CryptoQuant Head of Research Julio Moreno pointed out that Bitcoin rallied 37% from $60,000 in February to $82,000 before hitting resistance at the 200-day MA. 

In 2022, Bitcoin posted a 43% rally between March and May before rejecting at the identical technical level.

“We have had a really good rally since the lows of February, but still what I’m telling here is that it’s a bear market rally,” Moreno stated. “We actually hit that resistance…

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