- Multiple indicators from expert analysts signal an end to Bitcoin’s bearish decline.
- Van de Poppe believes Bitcoin’s next rally will be huge, consistent with previous trends.
- A crypto analyst believes it is extremely risky to be shorting Bitcoin at this time.
Bitcoin’s technical indicators signal an end to the bearish decline and a potential reversal. However, analysts note that investors seem currently uninterested in the digital asset, leaving the timing of the next bull run unknown.
Bitcoin’s Downtrend is Done
According to a renowned Bitcoin analyst, Michael van de Poppe, Bitcoin has hit the ultimate accumulation trigger in this cycle. Poppe noted that the current Bitcoin price structure is rare and offers a generational opportunity whenever it appears.
The analyst cited instances when Bitcoin behaved similarly, highlighting the cryptocurrency’s impressive historical returns. Van de Poppe believes Bitcoin will maintain this pattern and return impressive results. His only concern is the moment of the opportunity, considering the current lack of interest among investors in cryptocurrency.
Nonetheless, the analyst indirectly made a significant projection for the next bull run. He predicted that by the next time Bitcoin flashes this signal, its price will be between $150,000 and $200,000, representing the bottom of the next bear cycle.
It is Risky to Short Bitcoin Now
Another Bitcoin analyst has aligned with Van de Poppe’s view about Bitcoin sitting on a turnaround level. The analyst, identified as Frank on X, revisited a signal from late February, emphasizing its significance after claiming that Bitcoin is arguably at the best price to purchase.
The analyst further revealed that Bitcoin’s latest pullback was characterized by historical premium payments, which he considered a significant risk for bearish traders. According to the analyst, Bitcoin’s price is currently three standard deviations away from the mean, a structure he considered significantly bullish.
Strategy’s Bitcoin Accumulation Continues
It is worth noting that both Van de Poppe’s and Frank’s deductions align with the view of the leading Bitcoin treasury Strategy, which recently acquired 3,273 Bitcoin, boosting its portfolio to 818,334 BTC, with tokens bought at an average price of $75,537 per coin.
Data from TradingView reveals Bitcoin traded at $78,129 at the time of writing. The cryptocurrency staged a recovery from an early pullback, following failed talks between the US and Iran on how to end the ongoing war in the Middle East.
Related: Strategy Buys 3,273 BTC, Extends Massive Bitcoin Accumulation Streak
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