Bitcoin Marks 114 Weeks In Active Buy Signal On The SuperTrend Weekly, But Things Could Turn Bad If This Happens

Source Newsbtc

Crypto analyst Tony Severino has 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 level and rally to new highs. 

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

Crypto analyst PlanB recently affirmed that 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 Crypto has 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. 

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 data from CoinMarketCap.

Bitcoin
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
US Dollar Index Price Forecast: Rally pauses above 100.00 despite Fed dovish bets ease furtherThe US Dollar Index (DXY) trades 0.18% lower to near 100.00 during the European trading session on Thursday.
Author  FXStreet
7 hours ago
The US Dollar Index (DXY) trades 0.18% lower to near 100.00 during the European trading session on Thursday.
placeholder
Galaxy lowers Bitcoin forecast to $120K due to AI and goldGalaxy Digital lowers its year-end bitcoin target from $185,000 to $120,000 due to slowing momentum in the ‘maturity era’ of the bitcoin market.
Author  Cryptopolitan
7 hours ago
Galaxy Digital lowers its year-end bitcoin target from $185,000 to $120,000 due to slowing momentum in the ‘maturity era’ of the bitcoin market.
placeholder
What Altcoins Whales Are Buying After the Early November Crypto Crash?The early-November crypto crash caught the market off guard, contradicting expectations of a strong, bullish month.
Author  Beincrypto
7 hours ago
The early-November crypto crash caught the market off guard, contradicting expectations of a strong, bullish month.
placeholder
U.S. Stock Market Opinions Diverge: Will the Market Rise or Fall Going Forward?U.S. stocks have recently pulled back from their peaks, and investor forecasts for the path ahead have sharply diverged.
Author  TradingKey
7 hours ago
U.S. stocks have recently pulled back from their peaks, and investor forecasts for the path ahead have sharply diverged.
placeholder
EUR/USD picks up from three-month lows as risk sentiment improvesEUR/USD posts moderate gains for the second consecutive day on Thursday, trading at 1.1505 at the time of writing, up from the three-month lows at 1.1468 hit earlier this week.
Author  FXStreet
8 hours ago
EUR/USD posts moderate gains for the second consecutive day on Thursday, trading at 1.1505 at the time of writing, up from the three-month lows at 1.1468 hit earlier this week.
goTop
quote