Bitcoin (BTC) Bull Market Remains Active Unless the Price Falls Below This Level, Says Tony Severino

Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level.

Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level.

What Happened: According to Severino, the $49,000 price region is the make-or-break zone for Bitcoin. In an X post on Tuesday, Severino shared a chart showing that Bitcoin remains above the ascending trendline from Q3 2023.

An ascending trendline represents a sustained uptrend in price action, typically confirmed by the formation of successive higher highs and higher lows. It typically demonstrates persistent buying pressure and sufficient underlying demand, thus ensuring a prolonged price rally.

Generally, the higher lows reflect the strength of an ascending trend. Any fall below the previous higher low undermines the bullish momentum and indicates a likely change in market sentiment.

Severino highlights that the last higher low on Bitcoin’s ascending trendline is at $49,140. This level acts as a key support region. If the price falls below this point, it will signal a new market cycle.

"We are in a bull market as long as the price stays above the last higher low, which is $49,140 (highlighted in purple). If the price falls below this level, it will signal a new bear market cycle," explained Severino.

See More: Best Cryptocurrency Scanners

As of Monday morning, Bitcoin is trading in a consolidation range between $83,000 and $86,000 over the past week. The market appears to be finding stability with accumulation now on the rise.

With the US 90-day pause on new tariffs, the possibility of a strong bearish catalyst is relatively low. However, the potential for a decisive price breakout remains uncertain, as broader market sentiment continues to encounter key resistance barriers at the $86,000 and $91,000 price levels.

Bitcoin Price Action:

At press time, Bitcoin is trading at $85,312, reflecting a price gain of 0.91% in 24 hours. Interestingly, the asset’s trading volume is up 19.77% and valued at $15.26 billion.

According to price prediction firm Coincodex, investor sentiment is neutral. However, there remains a significant level of caution with the Fear & Greed Index standing at 37. In forecasting Bitcoin fortunes, Coincodex anticipates a full bullish market reversal with projections of $108,296 in five days and $111,236 in a month.