Bitcoin Bull Market Remains Intact Unless This Support Breaks Analyst

Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level.  Notably, Bitcoin saw a heavy correction after hitting a peak price of $109,000 in January. Over the last three months, the premier cryptocurrency has traded as low as $74,000, representing a devaluation of over 32.5%. Although there has been a notable price bounce in April, an ever-present market uncertainty means speculation remains abound on the viability of the present bull cycle. Related Reading: Bitcoin Dominance At Risk Of Crash To 40%, Why This Is Good For Ethereum, XRP, And Altcoins $49,000 As Key Price Level For Bitcoin – Here’s Why In an X post on April 18, Severino has identified the $49,000 price region as the make-or-break zone for the Bitcoin market.  With the help of a weekly trading chart, Severino highlights that Bitcoin remains on an ascending trendline stretching as far back as Q3 2023.  An ascending trendline represents a sustained uptrend in price action, typically confirmed by the formation of successive higher highs and higher lows. It typically demonstrates a persistent buying pressure and sufficient underlying demand, thus ensuring a prolonged price rally. Generally, the higher lows reflect the strength of an ascending trend. Therefore, any fall below the previous higher low undermines the bullish momentum and indicates a likely change in market sentiment.   According to Severinos chart, the last higher low on Bitcoins ascending trendline stands at $49,140. Therefore, this level represents a key support region, any price fall below which would invalidate the present bull run and signal a new market cycle.  At the time of writing, Bitcoin remains in consolidation trading between $83,000 and $86,000 as seen over the past week. The market appears to be finding stability with accumulation now on the rise.  Amid the US 90-day pause on new tariffs, the likelihood of a sharp downside catalyst is relatively low. However, the potential for a decisive price breakout remains uncertain, as broader market sentiment continues to face key resistance barriers at $86,000 and $91,000 price regions. Related Reading: Brace For Impact: Dogecoin May Plunge Before Skyrocketing 400%Analyst Bitcoin Price Forecast At press time, Bitcoin is trading at $85,312, reflecting a price gain of 0.91% in 24 hours. Interestingly, the assets trading volume is up 19.77% and valued at $15.26 billion. According to price prediction firm Coincodex, market sentiment among investors is neutral. However, there remains a significant level of caution with the Fear & Greed Index standing at 37. In forecasting Bitcoin fortunes, Coincodex anticipates a full bullish market reversal with projections of $108,296 in five days and $111,236 in a month. Featured image from Adobe Stock, chart from Tradingview

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Bitcoin Price Action Says Bottom Is In, Analyst Reveals Whats Coming

Crypto analyst Master Ananda has asserted that the bottom is in for the Bitcoin price following its massive crash below $80,000 last week. In line with this, the analyst revealed what to expect next from the flagship crypto.  Bitcoin Price Action Shows Bottom Is In  In a TradingView post, Master Ananda claimed that the bottom is in based on the current Bitcoin price action. He stated that last weeks drop, touch-and-go, is the perfect bottom signal. The analyst further remarked that $78,300 can be taken as the bottom, which represents a 28% decline from BTCs all-time high (ATH) of $109,000.  Related Reading: Bitcoin Flag Pole Pattern Puts Price At $120,000, Analyst Explains The Roadmap Master Ananda also noted that this was a classic retrace, as there always is one after a strong bullish breakout. He explained that this classic retrace is good for the Bitcoin price because the flagship crypto will take its time to build up strength. The analyst added that taking time to grow is good, and is the only way it can work if BTC is to move higher in the long term. Meanwhile, as to what is next for the Bitcoin price, the crypto analyst stated that on average, daily price increases of $500 or $800 can reveal how long it will take to reach higher prices and higher levels in the coming months. Master Ananda then suggested that the flagship crypto could reach $200,000 next month.  Master Ananada then advised market participants to buy and hold seeing as the low is in for the Bitcoin price. He added that the market is giving a second opportunity, as market participants have the chance to buy at relatively low prices. The crypto analyst also mentioned that BTC is in an accumulation phase and asserted that it will go up and continue to grow in the long-term.  BTC Regaining Momentum Crypto analyst Titan of Crypto also affirmed that the Bitcoin price is regaining momentum. He noted that BTC has reacted strongly to the Kijun acting as support on the weekly chart. The analyst added that a weekly close above the Tenkan at around $94,000 would confirm a shift in momentum and reinforce the bullish case for the flagship crypto.  Related Reading: Bitcoin Price At The End Of The Bull Market? Analyst Shows Where We Are In The Cycle Meanwhile, in another X post, the analyst asserted that the Bitcoin bull market is still on. He claimed that there was no bear market in sight according to the Supertrend indicator. As such, the analyst believes that it is not yet time to be bearish. His accompanying chart suggested that the Bitcoin price could still rally to above $200,000 before the bear market kicks in.  At the time of writing, the Bitcoin price is trading at around $92,000, up over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from LinkedIn, chart from Tradingview.com

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Peter Brandt on Bitcoin Bull Market: My Bet Is This Is a Starting Candle

Veteran trader and renowned chartist Peter Brandt has doubled down on his bullish outlook for bitcoin. After raising his bitcoin price target for this bull market cycle to $200K, Brandt pointed to “huge monthly bars” on his bitcoin price chart, stating: “My bet is that this is a ‘starting’ candle.” Peter Brandt’s Bitcoin Bull Run [...]

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Dont Panic: The Bitcoin Bull Market Is Far From Over, Quant Says

Amidst the recent Bitcoin pullback from its previous all-time high above $73,000, Ki Young Ju, the founder and Chief Executive Officer (CEO) of Crypto Quant, reassures the broader crypto community that the BTC bull market is far from over.  Bitcoin Bulls Are Not Done In a recent X (formerly Twitter) post, Ju expressed strong bullish sentiment regarding Bitcoin, highlighting factors that suggest that Bitcoins upward trajectory is likely to continue. The Crypto Quant CEO shared a crucial indicator depicted in a price chart, showcasing the percentage of Realized Cap across four age bands for BTC.  Related Reading: Top 3 Solana Meme Coins To Buy Amid The Bitcoin Crash That Could 10x According to data from the price chart, the observed trends from the Realized Cap of four age bands from 6 months to three years indicate a positive outlook for BTC in 2024.  Additionally, the CEO has stated that the primary catalyst behind Bitcoins rise to new all-time highs is the success of the Spot Bitcoin ETF, rather than the upcoming Bitcoin halving event in April.  After the introduction of Spot Bitcoin ETFs, BitcoBTCin embarked on an exponential rally, reaching heights not witnessed since its previous bull run in 2021. The cryptocurrency rose to record highs, surpassing $73,000 previously, but experienced a major pullback of about 8.33% over the past week. At the time of writing, Bitcoins price is below $70,000, trading at $67,225, according to CoinMarketCap. Ju has revealed possibilities for even more declines, predicting a potential price drop of 50% for the cryptocurrency if a maximum drawdown of 30% occurs. The CEO has stated that for this event to happen, new whales, particularly ETF buyers, will have to enter the Bitcoin market at $56,000 on average.  While this outlook may seem bleak, the Crypto Quant founder has also expressed strong belief in the continuation of the BTC bull market, contingent upon the sustained momentum of ETF inflows.   Retail Investors Still Making Their Way Into The Market Reinforcing his belief that Bitcoin is still in the middle of the bull cycle, Ju asserts that the cryptocurrencys cyclic top has not yet been breached. The CEO suggested that more price upswings were still set for Bitcoin, as retail investors have not fully entered the market yet.   Related Reading: Shiba Inu Sees A Shift: Short Term Holders Take Possession Of 23 Trillion SHIB According to the Crypto Quant founder, only 50% of retail investors have entered the market, indicating the halfway point towards Bitcoin euphoria. This suggests that if more retail investors flood the market, BTC could potentially rise to new peaks, driven by increased demand and capital inflows.  Echoing Jus convictions about Bitcoins long-term price increase, Bitcoin analyst Willy Woo encourages investors to embrace the dip during the present consolidation phase. The analyst confidently asserts that this is not the top, but rather a simple period of consolidation reminiscent of previous all-time highs.  BTC bulls begin to reclaim control | Source: BTCUSD on Tradingview.com Featured image from Decrypt, chart from Tradingview.com

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Bitcoin Bull Run Is Over: CryptoQuant CEO Sounds The Alarm

CryptoQuant CEO Ki Young Ju announced today that Bitcoins bull cycle is over and warned investors to brace for 612 months of bearish or sideways price action. This development comes after the on-chain analytics veteran had previously urged caution but maintained a measured outlook on the market as recently as two weeks ago. Is The Bitcoin Bull Run Over? In a post shared today via X, Ki stated:Bitcoin bull cycle is over, expecting 612 months of bearish or sideways price action. Related Reading: Bitcoin To $10 Million? Experts Predict Explosive Growth By 2035 Along with the comment, the CEO highlighted the Bitcoin PnL Index Cyclical Signalsan index that aggregates multiple on-chain metrics, such as MVRV, SOPR, and NUPL, to pinpoint market tops, bottoms, and cyclical turning points in Bitcoins price. According to Ki, this indicator has historically offered reliable buy and sell signals. He further explained how an automated alert, previously sent to his subscribers, combined these metrics into a 365-day moving average. Once the trend in this 1-year moving average changes, it often signals a significant market inflection point. As proof, Ki also shared a chart: This alert applies PCA to on-chain indicators like MVRV, SOPR, and NUPL to compute a 365-day moving average. This signal identifies inflection points where the trend of the 1-year moving average changes. Ki pointed to drying liquidity and fresh selling pressure by new whales who, he said, are unloading Bitcoin at lower prices. Notably, he revealed that CryptoQuant users who subscribed to his alerts received this signal before todays public announcement. With fresh liquidity drying up, new whales are selling Bitcoin at lower prices. Cryptoquant users who subscribed to my alerts received this signal a few days ago. I assume theyve already adjusted their positions, so Im posting this now. Related Reading: Bitcoin Whale Shorts $445 Million In BTCTraders Plot Explosive Liquidation This latest declaration contrasts remarks from just four days ago, on March 14, when Ki struck a more cautious tone, stating: Bitcoin demand seems stuck, but its too early to call it a bear market. At that time, he shared a chart of the Bitcoin Apparent Demand (30-day sum) indicator, which had turned slightly negativean early signal that demand might be tapering off. Although Ki pointed out that demand could still rebound (as it has in past sideways phases), he acknowledged the possibility of Bitcoin teetering on the edge of a bear market. The pivot in sentiment is especially notable given Kis stance from two weeks ago. In that earlier post, he opined that the bull cycle is still intact, crediting strong fundamentals and growing mining capacity: Theres no significant on-chain activity, and key indicators are neutral, suggesting the bull cycle is still intact. Fundamentals remain strong, with more mining rigs coming online. However, he also cautioned that the market could turn if sentiment did not improve, particularly in the United States. With todays announcement, the warning has evidently crystallized. Reflecting on the potential downside scenario, Ki said at the time: If the cycle ends here, its an outcome no one wantednot old whales, mining companies, TradFi, or even Trump. (FYI, the market doesnt care about retail.) At press time, BTC traded at $83,059. Featured image created with DALL.E, chart from TradingView.com

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Wolf of All Streets Sees Start of Major Bull Run for Bitcoin and Broader Crypto Market Warns of a Huge Bubble

Scott Melker, also known as the “Wolf of All Streets,” believes that we are at the start of a major bull run for both bitcoin and the broader crypto market. “We will likely see a huge bubble and that coins with no fundamental value will also skyrocket before it inevitably pops,” he warned, adding that [...]

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Bitwise CIO Predicts Bitcoin Bull Market Wont End Early Expects an Everything Season

The chief investment officer at Bitwise Asset Management has explained why the current bitcoin bull market differs from prior bull markets. He doesn’t expect the bull market or the alts season to “end early,” emphasizing that he expects to see “more of an ‘everything season,’” rather than a classic alts season. Bitwise’s CIO Predicts an [...]

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Vaneck CEO Predicts Bull Cycle for Bitcoin and Gold — Expects Fed Tightening to End Soon

The CEO of investment management firm Vaneck has predicted a bull cycle for gold and bitcoin. “We are at the very beginnings of what could be a several-year cycle in gold, and I also put bitcoin in that category as well,” the executive said, adding that the Federal Reserve is “close to the end of [...]

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Bitcoin analysts map out the key bull and bear cases for BTC’s price action

BTC price is showing slight bullish momentum, leading on-chain analysts to present potentially bearish and bullish data-based scenarios.

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By The Numbers: The Worst Bitcoin Bear Markets Ever

Bitcoin is now officially in another bear market after the crash that rocked the market last week. After falling more than 70% from its all-time high, investors across the space had started to retreat from the digital asset due to this new price trend. However, trends like these are not new for bitcoin. Although the present market may seem worse than previous ones due to it still ongoing, there have been some brutal bear markets in the past. A Blast From The Past It can often be helpful to take a look at the previous market cycles for bitcoin to see that this is nothing out of the ordinary. Yes, the bull and bear trends of this market have deviated from what has been recorded in history but it still remains very similar to what has been recorded in the past. For bitcoin, the alternation between bear and bull markets has always been part of the experience. It has been through several of these boom-bust cycles in its 13 years in existence and it is not expected to change anytime soon. Related Reading | Over $250 Million In Liquidations As Bitcoin Recovers Above $20,000 Bitcoin has so far lost about 73% from its most recent cycle peak but it is not the first time that something like this is happening. Looking back to the November 2013 market shows that bitcoin had actually continued to decline until it finally ended its 407-day losing streak with a bottom at 85% of its all-time high value. This had marked the end of that stretched-out bull market. For those in the market, the 2017 bull-bear cycle is fresher in their minds compared to 2013. However, like in 2013, the drawdown was just as brutal, although lasting a shorter time. What had lasted for approximately a year had ended with poor performance of an 84% bottom.  BTC bear markets are always brutal | Source: Arcane Research Since the digital asset continues to maintain this trend closely, it is expected that the drawdown will continue. Going by the previous two examples, one can easily draw a conclusion that a historical movement will see bitcoin bottom out in the mid -80s. Thus, the bottom is most likely not in and the market is likely to see BTC at $11,000 before the expected market bottom in late 2022. Will Bitcoin Follow? While looking at previous movements can help point a direction where the price of bitcoin might end up, there are always new information and events that can heavily impact it. For one, the macroeconomic atmosphere has been a big player in the movement of the digital asset in recent terms. As fears around inflation, fed rate hikes, and less liquidity circle the market, bitcoin had been directly impacted by this. BTC enters bear market | Source: BTCUSD on TradingView.com This has led to a more intertwined market when it comes to bitcoin and the broader financial markets. As the cryptocurrency space grows larger, it is experiencing greater implications from the Fed decisions, stock market performance, U.S. elections, and crypto regulations that have been ramping up. Related Reading | Cardano Vasil Hard Fork Launch Date Set, Time To Buy The News? Nevertheless, the long-term play for bitcoin remains the best bet. As emotions run high, bitcoin veterans take to accumulating and hibernating while waiting for winter to pass. If history is anything to point to, by the next bull market, the price of bitcoin could reach as high as $200,000. Featured image from Forbes, charts from Arcane Research and TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Bitcoin At Critical Inflection Point, Will Bulls Prevail?

It’s always “now or never” for Bitcoin, but it really does feel that way right now… Covered: Bitcoin’s parabolic rise since 2020 Retail buying, Whales risk-off selling Support at 40k is when Whales may come back in Other factors indicate bullishness Parabolic Since March 2020 Let’s have some perspective here…when looking at the charts, Bitcoin […]

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Should This Backtest Hold, Bitcoin Could Be Looking At “Explosive Move” Says Tech Analyst

Bitcoin, and the rest of the market, have been floundering of late. Thought, the charts might be giving us something to hope for, according to TechDev. We might yet still see the resumption of a Bitcoin bull market…  Covered: Bitcoin Bull Market: Wen Blowoff Top? Similarities to 2019 Does This Mean The Bullrun Hasn’t Really […]

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Peter Brandt Raises Bitcoin Price Target to $200,000 for the Current Bull Market Cycle

Veteran trader Peter Brandt has provided an update on his bitcoin price prediction. He explained that the price target for “the current bull market cycle” scheduled to end in Aug/Sep next year has been raised from $120,000 to $200,000. Peter Brandt on Bitcoin Bull Market Cycle Peter Brandt provided an update on his bitcoin price [...]

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Pantera Capital Predicts Strong Crypto Bull Market Over Next 18-24 Months

American hedge fund Pantera Capital has predicted “a strong bull market” for cryptocurrencies over the next 18-24 months. With the halving expected to occur in late April 2024, we believe the convergence of these positive things will provide strong tailwinds for the next bull market,” said Pantera founder Dan Morehead. Pantera’s Bull Market Prediction Pantera [...]

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Bitcoins Market Hangs in the Balance as U.S. Election Results Loom

Bitcoin observers and crypto investors are waiting for the U.S. presidential election and its repercussions in the market. In the latest video on YouTube, Crypto Rover explained that Bitcoin is at a tipping point and that the volatility will depend on the election outcome. While millions of Americans are voting today, the cryptocurrency market might […]

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Trump election win could send BTC to $100K and propel altcoins further

Never has cryptocurrency been so connected with the US elections, the outcome of which could trigger a full-on bull market. What are the prospects if Trump wins?

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Crypto Analyst Says Bitcoin Could Reach $180,000 Next Cycle If This Happens

Since the Bitcoin bull market began, one discussion that has never left the crypto community is when the next bull rally will commence and if it would follow the previously established trend around the halving events. To this end, a crypto analyst, Lark Davis, has taken to X (formerly Twitter) to share his forecast around [...]

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