Bitcoin LTH-STH Gap Signals Bear Market Far from Over, Analysts Warn
- Price Gap Warning: Bitcoin's long-term holder (LTH) average cost basis is $49,500, while short-term holders (STH) average $72,500, with historical data indicating that the convergence of these two lines typically signals the continuation of a bear market, suggesting ongoing market pressure.
- Unchanged Bear Cycle: Despite doubts about Bitcoin's cyclical structure, analyst Darkfost noted that every previous bear market has exerted pressure on LTHs, and the current price gap has not yet reached the historical crossover point, indicating that the bear market may still have considerable time left to run.
- Bull Trap Theory: Crypto Lens argues that the recent rally to $66,000 represents a bull trap within a longer bearish cycle, predicting that the market is exactly halfway through its current bear cycle, with potential declines to $48,000 and possibly down to $32,000 in the coming months.
- Future Price Predictions: According to Crypto Lens, Bitcoin could experience three potential price trajectories over the next few months, targeting $48,000, $43,000, and $32,000, reflecting a generally pessimistic market sentiment, urging investors to remain cautious.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 53987.783 | 56559.346 | 59621.193 | 62192.756 | 65254.603 | 67826.166 | 70888.013 |
| Fibonacci | 56559.346 | 58711.309 | 60040.794 | 62192.756 | 64344.719 | 65674.204 | 67826.166 |
About BTC
About the author
