The price of bitcoins has now dropped by more than -22% compared to their time, showing a series of lower maximas in the daytime. While the weekly and monthly stubborn, calls for the initial Bitcoins bear are becoming louder on X. Two outstanding analysts were considering what they think could be a decisive factor in the extended rally – or deeper slowdown.

Bitcoin Bull Run in Jeopardy

Cryptographic analyst guy, publishing under the @Chartingguy handle, common A chart that places robust emphasis on the price of USD 95,000 for Bitcoin, noting: “Yes, I will go back to fully stubborn […] For this to happen […] This is a level that was earlier support for most of February, and then we rejected from him on March 2 and transformed it into resistance […] Now, because March 11, 76.7 thousand $ is a very likely local low level, we pull out FIB, and 95,000 $ 0.618 FIB just happens perfectly. You can’t come up with it. “

According to its analysis, the withdrawal of Fibonacci 0.618 – often called the “golden pocket” – spreads as the final test of stubborn strength. Failure to comply higher and transforming this zone into support, a guy’s warning with charts can lead to an extended phase of the bear.

He also explained that Bitcoin (BTC) and actions such as the S&P 500 (spy) must move in their golden pockets, before any real, sturdy rally may start: “If crypto and wrestling cannot recover the golden pocket and reverse it to support and end it, and then I am rejecting there, and I am rejecting there, and I am there.

Nevertheless, a guy with charts sees the potential to the bull in April to June: “April – June will be stubborn AF IMO […] But this extension until June is only when May is strong, not sales in May and leave […] What will determine this? Like BTC & Spy, they react to their golden pockets when they get there in the April rally. “

If these technical barriers prove impossible to overcome, the guy with charts says that he will come out of his positions: “If it is only a help rally, and the charts look again when we return at these levels at the end of April/at the beginning of May, then I will leave this market.”

Another cryptographic analyst, @Wauwda, accepted more caution stanceNoticing a few bears of signals for both Bitcoin and S&P 500: “Each indicator becomes unwarched on HTF for BTC and SPX: Bedish Stochastics RSI Cross, Bearish Macd Cross, Bearish Divergence RSI, Mest Lower High, Altcoins Higher … Ultimate Bull Bull

While Wauwda predicts a support rally-breaking up to the potential of reflection due to the extreme moods of the bear-he indicates parallels from 2021. He mentions a series of events that he considers to indicate euphoria throughout the market, including thunderous support of celebrities, enormous corporate arts and meme-powered noise:

“” We didn’t have euphoria yet “… Are you sure? The founder of the throne buys a banana for $ 6.2 million and them, Coinbase gives free bitcoins to every person in the Game of Warriors, the Department of Government (Doge), teenagers get cryptographic permanent permanent at school, people are flexible on yachts, dog is worth more than general motors, New York Melon bank, Peter Schiff created it. This is only a small part of what I wrote. “

Despite the recognition that the euphoria of this cycle may look different than the previous ones, Wauwda notes that similar warning signs appeared before the peak of the 2021 market. It also indicates the dominance of ETH/BTC and Bitcoin (BTCD) as factors to watch, although both showed unstable, oscillating patterns, not a clear trend: ” Ethbtc and BTCD, because both were only up and down, but maybe this will change with the next leg up. “

In the BTC press it traded at USD 84 206.

A distinguished painting created from Dall.e, chart from tradingview.com