Bitcoin reached $73,000 after a price surge of 9% in the last week. The broader market, however, suggests that the top cryptocurrency remains stuck in its bear phase which has lasted for over six months. Interesting, historical data indicates that recent price fluctuations could be the catalyst for a major bullish rebound. This would provide investors with an intermediate to long-term period of relief.
Bitcoin is nearing key support as the bulls target historical recovery.
Then, you can get in touch with us. X post Ali Martinez, an acclaimed analyst from the United States shared on April 11 a positive analysis of Bitcoin’s chart. The observation highlighted a cycle-like price rise. This price surge was triggered, in part, by the retesting of an ascending trendline that has been present for a long time during a prolonged correction period. Martinez calls this trendline ascending the “Parabolic Guard,”This is probably the highest technical level ever seen in Bitcoin. In the past 10 years, price tests of this line have always been followed by a huge rebound. In 2017, Bitcoin’s contact with this trendline produced a staggering 961% gain in the following months.
Bitcoin’s technical side is probably the most respected. $BTC history. Since nearly ten years, the ascending trendline of this graph has served as the "Parabolic Guard." Every contact has always preceded an expansion of this magnitude:
• 2017: +963% • 2018: +261%• 2020: +1,126% • 2022:… https://t.co/uIDjVPVIyx pic.twitter.com/QloO6k66OO
— Ali Charts (@alicharts) April 11, 2026
In 2018, a similar event occurred, but the yield was lower at 261%. In 2020, Bitcoin’s retest of the Parabolic Guard triggered 1,126% price increase, before the 2022 bear market commenced. This bullish scenario was repeated in 2022 and resulted in an overall gain of 670 percent over the previous four years. Martinez claims that the historical ascending trendline is currently between $56,000-$60,000. This price range lies about 20% lower than the current market value. The current cycle low is around $60,000. This was formed by Bitcoin during an intensive market decline in early February.
According to Martinez’s latest post, the market would likely need a return to this market bottom to end the bear market and initiate a long-term recovery. The prominent analyst also explains that Bitcoin’s contact with the Parabolic Guard would slow smart money’s accumulation in anticipation of the next price surge.
Bitcoin Market Overview
Bitcoin had a value of $71,508 as at time of publication, after a drop by 1.81% the day before. Daily trading volume is down 27.35% to $26.35 Billion. According to CoinCodex data, the overall market sentiment is heavily bearish, while the Fear & Greed Index remains in extreme fear territory. Nevertheless, CoinCodex analysts expect Bitcoin’s market bounce, driven by the easing geopolitical tensions, to persist for the time being, with price predictions of a $79,729 in the next five days.
Chart from Tradingview, image from Freepik
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Source: www.newsbtc.com
