Has the Bitcoin bull run? Look at this key price

The price of bitcoin has currently decreased more than -22% of its all time, showing a lower series of maximums within the daily period. While the weekly and monthly scope time, the calls for the beginning of the bitcoin Bear market are becoming stronger in x. Two prominent analysts have intervened in what they believe could be the decisive factor for an extended rally, or a deeper recession.

bitcoin Bull Run in danger

Crity Analyst Charing Guy, publishing under the mango @Chartingguy, <a target="_blank" href="https://x.com/ChartingGuy/status/1907251864879464606″ target=”_blank” rel=”nofollow”>shared A picture that puts a strong emphasis on the price of $ 95,000 for bitcoin, pointing out: “Yes, I will turn over complete $ 95K is simply 0.618.

According to its analysis, the 0.618 fibonacci setback, often called “golden pocket”, occurs as a definitive test of bullish force. Do not break on top and turn this area in support, Guy's precautions, could lead to an extended bearish phase.

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In addition, he explained that bitcoin (btc) and the actions, such as the S&P 500 (SPY), must navigate their respective golden pockets before any real and sustained rally can begin: “If the crypto and the stocks cannot recover the golden pocket and turn it to support, and finish rejecting there, then I am empty in btc & stocks for a while.”

However, Charing Guy sees the potential of a bull in April to June: “April – June will be up to my opinion (…), but that extension in June is only if May is strong and not a sale in May and will disappear for a month (…) What will determine that? How btc & Spy both react in their respective golden pockets when they get there in April”?

If these technical barriers are insurmountable, the type of graphics says that it will leave their positions: “If this is just a relief rally and the graphics are seen again when we return to these levels at the end of April/early May, then I will be out of this market.”

Another cryptographic analyst, @wauwda, has taken a more cautious <a target="_blank" href="https://x.com/wauwda/status/1906989703426957373″ target=”_blank” rel=”nofollow”>positionpointing out several bearish signs for both bitcoin and S&P 500: “Each indicator is becoming bassist in the HTF for btc and SPX: Cruz RSI Bastel Stochastic, Cruz Macd Beard, Divergence Bearish RSI, lower mstr, higher altcoins … Ultimate Bulls.”

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While Wauwda anticipates a relief rally, citing the potential of a rebound due to the feeling of extreme bassist, says parallel with 2021. He lists a series of events that he considers indicative of the euphoria of the entire market, including the endorsers of high profile celebrities, the great corporate works and the exaggeration directed by the memes.

“'We didn't have euphoria yet' … are you sure? Founder Tron buys banana for $ 6.2 million and eats it, Coinbase da bitcoin free to each person in the Guerrus game, the Government Efficiency Department (Doge), adolescents are getting cryptocurrencies at school, people are flexing in the Yaches of Yaches, Doge is more than general than general motors Of New York of New York, Phereses, Pheshiff, Phift, Phift, Phiff.

Despite recognizing that the euphoria of this cycle could be different from the previous ones, Wauwda points out that the similar warning signals appeared before the top of the market 2021. It also indicates the ethc/btc and bitcoin domain (BTCD) as factors to see, although both have shown volatile and oscillating patterns instead of a clear tendency: “What I am struggling at this time is Ethbtc and BTCD since both have been up and down, but maybe that will change with the next advantage. “

At the time of publication, btc quoted at $ 84,206.

Outstanding image created with Dall.E, Record of TrainingView.com