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The price of bitcoin is currently down by more than -22% compared to its time, displaying a series of lower ups over the daily time. While the weekly and monthly Haussier time, calls for the start of the bitcoin market become stronger on X. Two eminent analysts weighed what they believe could be the decisive factor for a prolonged rally – or deeper slowdown.
Bitcoin Bull Run in Jeopardy
Crypto Analyst Charting Guy, publishing under the handle @ChartingGuy, common A graphic that highly emphasizes the price of $ 95,000 for Bitcoin, noting: “Yes, I will return entirely to […] For this to happen, BTC must recover and contain $ 95,000, which he said several times […] It is the level which was preliminary to the majority of February, then we rejected it harsh on March 2 and transformed it into resistance […] Now, with $ 76.7,000 on March 11 being the most likely room, we fire a FIB and $ 95K is perfectly 0.618 FIB. You can’t invent this.
According to his analysis, Fibonacci’s retracement of 0.618 – often called the “golden pocket»- Looms large as a final upright test. The fact of not breaking and transforming this area into support, stating a guy claims, could lead to an extended bearish phase.
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He also explained that Bitcoin (BTC) and actions, such as the S&P 500 (SPY), must navigate in their respective golden pockets before any real sustained rally can begin: “If the crypto and the stocks cannot recover the golden pocket and return it to support, and end up rejecting there instead, then I am carrying BTC & stocks for a while.”
Nevertheless, the graph is potential for a taure race […] But this extension in June is only if May is strong and not a sale in May and disappear in the type of month […] What will determine this? How BTC and Spy both react in their respective golden pockets when they get there on this gathering in April. »»
If these technical obstacles prove to be insurmountable, Charting Guy says that he will leave his positions: “If it is not a purely a rescue rally and that the graphics seem again Toppy when we are back at these levels at the end of April / early May, then I will be out of this market.”
Another crypto analyst, @wauwda, took a more careful positionNoting several lowering signals for bitcoin and S&P 500: “Each indicator becomes a drop on the HTF for BTC & SPX: easy -to -off Stochastic Cross, Downing MacD Cross, Lower High, higher altcoins … Ultimate Bull trap. “”
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While Wauwda anticipates a rescue rally – with regard to the potential of a rebound due to an extreme bearish feeling – he highlights the parallels with 2021. He lists a series of events he deems indicative Company playersand the beaten media focusing on the memes:
“We didn’t have any euphoria yet” … Are you sure? The founder Tron buys a banana for $ 6.2 million and eats it, Coinbase gives free bitcoin to each person of the Warriors game, the Department of Government Effectiveness (DOGE), adolescents get crypto lessons from New York, New York people, which is well responding. is just a small part of what I wrote.
Despite the recognition that the euphoria of this cycle could be different from the previous ones, Wauwda notes that similar warning panels appeared before the market 2021. It also underlines the Domination ETH / BTC and Bitcoin (BTCD) as factors to monitor, although the two have shown volatile and oscillating models rather than a clear trend: ” Ethbtc and BTCD because they were both from top to bottom, but maybe it will change with the next leg. ”
At the time of the press, the BTC was negotiated at $ 84,206.
Star image created with dall.e, tradingView.com graphic
