Bitcoin, Is It Over?...'Last Support Line' Collapse Imminent

▲ Bitcoin (BTC)/ChatGPT Generated Image

Market tensions are escalating as Bitcoin (Bitcoin, BTC) retests a key support zone that it has historically never breached.

According to crypto media outlet Bitcoinist on April 26 (local time), Bitcoin has entered a critical juncture, approaching a specific price band that it has never fallen below in its long-term cycle. This zone is considered a crucial lower support line that has been consistently defended even during past bear market phases.

The data used for analysis is an indicator combining long-term moving averages and on-chain valuation models, which has served as ultimate support whenever the market transitioned from an overheated phase to a cooling phase. Indeed, in previous cycles, Bitcoin formed a rebound trend by touching or approaching this range, and there have been no instances of it closing below this level.

The current price structure is interpreted as a retest of this historical support zone. Particularly, if this zone holds amid recent downward pressure, the possibility of forming a medium-to-long-term bottom, similar to the past, is being discussed. Conversely, if a breach materializes, the possibility of entering a new phase different from existing cycle patterns is also raised.

Market participants view the defense of this zone as a key variable for determining future direction. If this level holds, a trend of price stabilization accompanied by an influx of long-term investors may continue, but conversely, there is also the view that further downward pressure is inevitable if it collapses.

Bitcoin has maintained the same bottom structure in repeated cycles to date, and whether that pattern will continue this time is emerging as a critical turning point for the market.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*