Bitcoin long term (Bitcoin) The technical structure indicates potential losses in the near term before a major rally occurs, as the asset continues to hold above the $70,000 level.
In this line, weekly chart analysis shows a decade-long upward trend line, often called a “parabolic bouncer,” which has consistently supported Bitcoin’s biggest bull runs, connecting major macroeconomic lows and repeatedly acting as a launching pad for powerful rallies.
Historical data shared by Cryptocurrency Analyst Ali Martinez at X mail April 11 indicates that each test of this growing support was followed by huge gains.
In previous cycles, rises from this level were preceded by moves of about 963% in 2017, about 261% in 2018, more than 1,100% in 2020, and about 660% after the touch point in 2022.
These frequent reactions reinforce the trend line as one of the most reliable long-term Bitcoin indicators.
Notably, the current setup shows the price is approaching this upward support, with an expected touch zone between $56,000 and $60,000, where it is consolidating and then compressing while maintaining a broader uptrend with higher highs and higher lows.
An upward slope of the trend line indicates that each cycle forms at higher valuations. Recent price action shows Bitcoin pulling back from highs near $126,000 towards this support, in line with previous corrections that preceded renewed rallies.
Although this is not guaranteed, the consistency of this trend line makes it a key level, as the coming weeks will be crucial in determining whether Bitcoin respects this support and bounce.
Bitcoin price analysis
By press time, bitcoin was trading at $71,580, down about 1.5% over the past 24 hours but still up more than 4% over the week.
Technical indicators remain mixed, with short- and long-term momentum mixed. The price is trading above 50 days Sama At $69,505, suggesting near-term support, but it remains well below the 200-day SMA at $89,298, suggesting the broader trend remains under pressure.
The 14 days RSI The price stands at 61.58, reflecting neutral to moderate bullish momentum without entering the overbought zone.
This leaves room for further upside, although the lack of stronger momentum suggests continued uncertainty. Overall, while the short-term signals point to stability, the long-term structure has not yet confirmed a sustained bullish reversal.
