{"id":654943,"date":"2024-11-26T16:30:40","date_gmt":"2024-11-26T16:30:40","guid":{"rendered":"https:\/\/wncen.com\/?p=654943"},"modified":"2024-11-26T10:45:39","modified_gmt":"2024-11-26T10:45:39","slug":"bitcoin-price-bull-channel","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-bull-channel\/","title":{"rendered":"Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What&#8217;s Next"},"content":{"rendered":"<p><span style=\"font-weight: 400\">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 <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-whales-remain-determined-3-96-billion-worth-of-btc-gobbled-up-in-96-hours\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Tony Severino<\/span><\/a><span style=\"font-weight: 400\"> provided insights into what could come next for Bitcoin.\u00a0<\/span><\/p>\n<h2>What Next For Price After Close Above Bull Channel<\/h2>\n<p><span style=\"font-weight: 400\">In an X post, Tony Severino mentioned that the Bitcoin price is now retesting the median in the bull channel, with an <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-evening-star-btc-bulls-still-shine\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">evening star pattern<\/span><\/a><span style=\"font-weight: 400\"> 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.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/500-million-wiped-bitcoin-price\/\">Over $500 Million Wiped Out From The Market As Bitcoin Price Fluctuates Heavily<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, if Bitcoin closes below this median range, Tony Severino warns that the price could record a significant downtrend to the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-to-hit-90k-if-trump-wins-analysts\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">$90,000 range<\/span><\/a><span style=\"font-weight: 400\">. If this median range holds, the crypto analyst expects Bitcoin to break into the upper channel above the $100,000 level.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Tony Severino revealed that the target for this uptrend channel is $267,000. However, he doesn\u2019t 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 <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-bull-run-market-top\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">the market top<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">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.\u00a0<\/span><\/p>\n<h2>The $94,000 Range Is Another Level To Watch<\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst <\/span><a href=\"https:\/\/bitcoinist.com\/crypto-analyst-bullish-on-ethereum-and-xrp\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">CrediBULL Crypto<\/span><\/a><span style=\"font-weight: 400\"> 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.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/long-term-bitcoin-holders-greedy\/\">Long-Term Bitcoin Holders Remain Greedy Amid Price Break Toward $100,000, Why This Is Good<\/a><\/div>\n<p><span style=\"font-weight: 400\">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 <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-will-touch-80000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">$80,000 range<\/span><\/a><span style=\"font-weight: 400\">. The positive is that investors still look heavily bullish on Bitcoin\u2019s trajectory despite a potential price correction on the horizon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">In an X post, crypto analyst <\/span><a href=\"https:\/\/bitcoinist.com\/ali-martinez-discovers-major-resistance-for-shib-can-this-defi-coin-outshine-chainlink\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ali Martinez<\/span><\/a><span style=\"font-weight: 400\"> 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%.\u00a0<\/span><\/p>\n<figure id=\"attachment_654955\" aria-describedby=\"caption-attachment-654955\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-654955\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-7.png?w=460&#038;resize=460%2C444\" alt=\"Bitcoin price\" width=\"460\" height=\"444\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-7.png?w=512 512w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-7.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-654955\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at around $94,800, down over 3% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/EuM4quFm\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC price succumbs to bearish pressure | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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.\u00a0 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.\u00a0 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.\u00a0 Tony Severino revealed that the target for this uptrend channel is $267,000. However, he doesn\u2019t 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.\u00a0 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.\u00a0 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.\u00a0 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\u2019s trajectory despite a potential price correction on the horizon.\u00a0 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%.\u00a0 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.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":650846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-654943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Closes Above Bull Channel, Crypto Analyst Reveals What&#039;s Next<\/title>\n<meta name=\"description\" content=\"The Bitcoin price recently closed above the median in a bull channel, providing a bullish outlook for the flagship crypto.\" \/>\n<meta name=\"robots\" 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