[Confirmation of a New Bull Market Launch Requires Bitcoin to Hold Above $78,700 on the Weekly Chart] Odaily Planet Daily reports that Doctor Profit posted on the X platform, stating that Bitcoin has broken above the 50-week moving average line located at approximately $78,700. If this week's closing price remains above this line, he will consider it a confirmation signal for the start of a new bull market. He noted that the current trend is similar to the structure observed between 2022 and 2023, where Bitcoin regained the 50-week moving average after being repeatedly blocked and experiencing a bear trap. Historically, Bitcoin has fallen below and then reclaimed the 50-week moving average 7 times, with 5 of those instances leading to bull markets, while the other 2—occurring in 2011 and 2020—resulted in false breakouts. Currently, Bitcoin remains within the $71,000 to $82,000 range, and breaking through the $82,500 to $83,000 zone would provide stronger confirmation. He plans to continue holding spot positions and target $88,000 after overcoming the remaining resistance.