Alex Thorn: Bitcoin (BTC) Logs 7th Week Above 50-Week Average

Seven Weeks Above the Weekly Mean

Bitcoin (BTC) closed its seventh consecutive week above the 50-week moving average, ending the week of November 1 at $78,229, and it managed this while the broader Bitcoin market absorbed a $6 billion-plus hack at Binance, the world's largest crypto exchange. The 50-week line, a medium-term support gauge watched by cycle traders, sits at $75,728, so the weekly close landed 3.3% above it. The Bitcoin price holds near $78,100 on Monday, up 0.6% over 24 hours and barely moved from those weekend prints. Galaxy Digital's head of research, Alex Thorn, published the weekly close chart on X over the weekend, calling it “great to see BTC's resilience and ability to keep the current technical market structure intact” despite the breach at the largest venue. His post, a weekly close chart with the seven-week streak marked, treated the defense of the line as evidence the medium-term structure is still whole. The reclaim is recent: Bitcoin (BTC) spent much of 2026 below that moving average and only climbed back above it in the week ended September 20, and every weekly close since has defended the line. The streak survived an October that took the price from the high $80,000s at the start of the month into the high $70,000s by its end, which also narrowed the cushion over the weekly mean to the 3.3% recorded on November 1. Below sits the 200-week moving average at $67,456, a line spanning several halving cycles; the close rests 16.0% above it, against the 3.3% cushion over the 50-week figure. For an asset engineered as the original proof-of-work network, exchange failures are not a new test, and the weekly record is the cleanest measure of how holders weigh them. Thorn's chart, in short, scores the Binance shock as a test the medium-term structure passed, with seven weekly closes above the mean as the scoreboard.

@intangiblecoins · X post

A weekly close chart with the seven-week streak marked.

View on X

Killa Puts the First Barrier at $78,800

The short-term map now belongs to crypto analyst Killa, whose Sunday post on X set the first lower-timeframe barrier at $78,800 to $80,100. His monthly-close review argues that the market has broken down into the lower part of its range and that the band is the first area worth watching for a reaction. A forceful break that turns the band into support would firm the medium-term case; a rejection leaves a slide back toward the monthly low in play. He also flags very short-term short trades targeting 1% to 2% near the highs that form early in the week, though he plans no such trade himself. He has been bullish from $62,000 and says he remains so: “market structure is market structure”, in his words, and with the market already 13% lower inside the bull run he has no interest in short positions, a stance closer to those who HODL through drawdowns than to momentum sellers. On his reading, a temporary dip out of the monthly low that snaps back would set up a larger buying opportunity. The stress backdrop was already visible in our recent coverage: one piece tracked Bitcoin (BTC) holding near $78K after testing $76,000 support, another recorded the Coinbase discount hitting a yearly high after a Binance freeze, and a third carries a warning that Bitcoin may repeat 2015's 40% drop if the cycle tracks that year. Killa's post went out on Sunday, a day before Thorn's, and both landed within hours of the monthly candle closing. Read together, the two weekend posts bracket the same market from opposite ends: Thorn's $75,728 weekly mean is the medium-term floor, Killa's $78,800 to $80,100 band the short-term ceiling. Seven weeks of closes above the mean describe where Bitcoin has been; the band overhead decides where it goes next.

@KillaXBT · X post

Monthly-close review.

View on X

COINOTAG's own Bitcoin technical analysis composite frames both calls against live data. Spot sits at $78,106, the strongest support beneath it is $77,971, scored 98 out of 100, and the nearest resistance is $78,925, scored 79 out of 100, a shelf that sits inside Killa's band. Momentum is thin: RSI reads 38.67 and the trend label is a downtrend. Positioning is one-sided without being crowded: perpetual funding runs at 0.0048% and the long/short account ratio stands at 2.37, with 70.3% of accounts long, a mix that reads retail-heavy rather than whale-driven. From Thorn's $75,728 weekly mean to the $80,100 top of Killa's band lies a gap of roughly $4,400; until $78,925 gives way, the shorter journey points back toward the mean.