Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What’s Next

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Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,820,255,656,336	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,820,255,656,336

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,000.80	-1.08%	92,084.76	92,074.53	92,084.75

Price Change

Price Change %

Current Price

Bid Price

Offer

-1,000.80

-1.08%

92,084.76

92,074.53

92,084.75

High Price	Low Price	Open Price	Prev. Close	52 Week Range
95,004.92	90,682.58	92,862.05	93,085.56	36,715.10 - 99,860.00

High Price

Low Price

Open Price

Prev. Close

52 Week Range

95,004.92

90,682.58

92,862.05

93,085.56

36,715.10 - 99,860.00

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	22:15:41	0.000119	92,084.75	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

22:15:41

0.000119

92,084.75

USD

Price x Volume	Volume	Base Symbol	Related Pairs
2,963,439,257.37	31,952.85	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

2,963,439,257.37

31,952.85

Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What’s Next

26/11/2024 4:30pm

NEWSBTC

The Bitcoin price recently closed above the median in a bull channel, providing a bullish outlook for the flagship crypto. In line with this, crypto analyst Tony Severino provided insights into what could come next for Bitcoin. What Next For Price After Close Above Bull Channel In an X post, Tony Severino mentioned that the Bitcoin price is now retesting the median in the bull channel, with an evening star pattern forming on the chart, which hints at a potential reversal. He noted that Bitcoin is fighting to stay above the $96,000 range, which could invalidate this sell signal. Related Reading: Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily However, if Bitcoin closes below this median range, Tony Severino warns that the price could record a significant downtrend to the $90,000 range. If this median range holds, the crypto analyst expects Bitcoin to break into the upper channel above the $100,000 level. Tony Severino revealed that the target for this uptrend channel is $267,000. However, he doesn’t think the Bitcoin price will reach that level in this bull run. Instead, the crypto analyst predicts that Bitcoin could peak between $160,000 and $190,000, although Severino is more confident about the former being the market top. The crypto analyst added that the golden ratio is in the $160,000 range, which makes this target more feasible. He also raised the possibility of the Bitcoin price eventually rallying to $169,000 as it peaks in this range. Amid this analysis, it is worth mentioning that Bitcoin is currently at risk of dropping to this $90,000, having failed to hold the median at the $96,000 range. The $94,000 Range Is Another Level To Watch Crypto analyst CrediBULL Crypto recently suggested that the $94,000 range is another level to watch for the Bitcoin price. According to him, this is the key level that matters. He claimed that BTC is bullish on all timeframes as long as the flagship crypto stays above this level. However, if Bitcoin loses this level, it could lead to a significant downtrend. Related Reading: Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good CrediBULL Crypto stated that a break below $94,000 will indicate a momentum shift and a potential larger correction that could cause Bitcoin price to drop to the low $80,000 range. The positive is that investors still look heavily bullish on Bitcoin’s trajectory despite a potential price correction on the horizon. In an X post, crypto analyst Ali Martinez mentioned that investors are buying the dip. This came as he revealed that the percentage of all traders with long Bitcoin positions has increased from 45.36% to 55.93%. At the time of writing, the Bitcoin price is trading at around $94,800, down over 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com

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