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.
Notably, Bitcoin saw a heavy correction after hitting a peak price of $109,000 in January. Over the last three months, the premier cryptocurrency has traded as low as $74,000, representing a devaluation of over 32.5%. Although there has been a notable price bounce in April, an ever-present market uncertainty means speculation remains abound on the viability of the present bull cycle.
$49,000 As Key Price Level For Bitcoin – Here’s Why
In an X post on April 18, Severino has identified the $49,000 price region as
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