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Tony “The Bull” Severino warned the cryptocurrency community to not fall into a trap by comparing Bitcoin’s current cycle to its historical bull run of 2017. Technical analyst Severino says a crucial indicator on the chart for the month paints a picture that is very different from what investors had hoped. Severino’s warning is timely as Bitcoin continues to consolidate The price range is between $81,001 and $84,500. However, the trend of buying suggests that this may be nearing its peak.
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Bitcoin no longer in same phase as 2017 according to the stochastic oscillator
The core of Severino’s argument The stochastic oscillator is a momentum tool that is commonly used by analysts to determine whether or not a particular cryptocurrency has been oversold or overbought in relation to the recent range of its price. When applied to Bitcoin The oscillator provides a more comprehensive view of the long-term trends in momentum, going back as far as 2013. This timeframe is included in the chart that Severino shared. It includes all major bear and bull cycles, as well as many recurring patterns.
The market participant who links the 1 month Bitcoin stochastic indicator’s movement is a response to his outlook to its past levels in 2017 As a way to gauge what the market is like, they use this indicator. In the chart, you can see that the oscillator is still in the same downtrend of 2017 since 2025. As of the writing of this post, the oscillator sits at around 60. This is the same value it dropped to when the bullish market in 2017 corrected.
He claims that the level shares little with the peak momentum of 2017’s bull run and is more in line with the beginnings of 2018’s bear market. Bitcoin experienced a 49% decline in one month between the high and low of its wick.
Severino suggests that current technical similarities with the bull market of 2017 are misleading, since the implication implies that the cryptocurrency leading is now at risk to enter a bearish or corrective phase.
Bitcoin can be broken in either direction.
Bitcoin has been struggling with strong buying and inflows. The data on the chain shows that short-term traders are a large part of Bitcoin’s market. have halted their buying activity This is because of the prolonged consolidation. It does not look good for the bullish outlook. The realized price model also indicates that the current correction is continuing. may still have weeks to run.
Bitcoin, however, has held and rejected a breakdown below $80,000 in the recent turmoil which has shaken the markets. Trump announced his proposed tariffs rattled marketsThis volatility affects not just crypto markets but all major US equity market.
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As the Dow Jones, S&P 500, and NASDAQ pulled back in response, Bitcoin also slipped toward the $81,000 level. It has, however, recovered from its fall and now sits above $83,000.
This is actually wild to see— for the first time, Bitcoin is decoupling right before our eyes 🤯 pic.twitter.com/b4G3HWqWBo
— Cory Bates (@corybates1895) April 4, 2025
Bitcoin was trading for $83,693 at the time this article was written.
Chart by TradingView. Image from Pexels.
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Source: www.newsbtc.com
