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Crypto analyst Tony Severinohas provided an update on the Bitcoin price action. The flagship crypto is now eyeing a bullish reversal, but the analyst warned of how things could still go wrong for BTC and mark the end of the bull run. Bitcoin Marks 114 Weeks In Active Buy Signal
In an X post, Severino revealed that Bitcoin is still in an active buy signal on the SuperTrend weekly. He added that BTC has been in this buy signal for 114 weeks and roughly 800 days. This is undoubtedly a huge positive for the flagship crypto, especially as it looks to reclaim the psychological $90,000 leveland rally to new highs. Related Reading Is Bitcoin Price Headed For $70,000 Or $300,000? What The Charts Are Saying 1 week ago
However, the crypto analyst warned that a sell signal would be a strong sign that the bull run has ended. His accompanying chart showed that the sell signal could send BTC into a Supertrend DownTrend, with the flagship crypto dropping to as low as $22,000 in what could mark the peak of the bear market. Bitcoin active for 114 weeks | Source: Tony Severino on X
Crypto analyst PlanB recently affirmedthat the bear market is not here yet. Instead, he believes Bitcoin is still in the middle of a sustainable uptrend and predicts that the flagship crypto’s price could double this year. This could lead to a parabolic rally to as high as $180,000 for BTC. Experts like Standard Chartered have also predicted that a rally to $200,000 this year is achievable.
In the meantime, the focus will likely be on how the Bitcoin price reacts to Donald Trump’s reciprocal tariffs, which will go into force on April 2nd. The previous tariffs sparked a wave of sell-offs, causing BTC to drop to as low as $77,000. However, there is also the possibility that Bitcoin has priced in this development and could avoid any further downtrend when the tariffs are implemented on April 2nd. A New ATH This Year Is Possible
Crypto analyst Titan of Cryptohas also affirmed that Bitcoin could see a new all-time high (ATH) this year. This came as he remarked that BTC’s uptrend is intact and that the flagship crypto reacted strongly around the weekly 50-day Exponential Moving Average (EMA). His accompanying chart showed that Bitcoin could reach a new ATH of $121,000 before the year runs out. Related Reading Analyst Says Bitcoin RSI Dominance Needs To Crash To This Level For The Bull Run To Resume 2 weeks ago
In another X post, he again predicted that Bitcoin could reach this target while revealing a ‘Bump and Run’ pattern which was forming for the flagship crypto. Titan of Crypto asserted that the Uphill run will be epic. A positive for BTC is that whales are actively accumulating. Crypto analyst Ali Martinez revealed that over 22,000 coins were withdrawn from exchanges in the past week.
At the time of writing, the Bitcoin price is trading at around $87,500, up in the last 24 hours, according to datafrom CoinMarketCap. BTC trading at $88,137 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com