Bitcoin Bull Market Remains Intact Unless This Support Breaks – Analyst

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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.

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 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.

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Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin bull market Bitcoin Btcusd Tony Severino Bitcoin Bitcoin price support BTCUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-20 @ 16:30:40 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 67 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 28049303

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