Key Insights:
- Bitcoin price hovered around $89,000 on Monday and showed no strong push higher or lower.
- According to the chart shared by ManOfBitcoin, price is trading comfortably above the lower boundary of the Gaussian channel.
- This zone acts as a trend-defining support during sustained bull markets.
Bitcoin price hovered around $89,000 on Monday and showed no strong push higher or lower. The market took a clear pause as traders positioned carefully ahead of the weekly close.
For the 8th consecutive day, the price of BTC USD remained stuck within a tight range with an extended period of sideway movements.
Bitcoin Price Holds Bullish Structure Above Gaussian Channel Support
Bitcoin price continues to show resilience on the higher time frame. According to the chart shared by ManOfBitcoin, BTC USD price is trading comfortably above the lower boundary of the Gaussian channel, a zone that often acts as a trend-defining support during sustained bull markets.
More importantly, this area now acts as a clear line in the sand for Bitcoin. For as long as the weekly candle closes above the lower band of the Gaussian channel, the overal bullish structure will remain intact.
As such, it’s easy to see that the buyers still have some magnitude for bullishness. Still, caution cannot be ignored for BTC USD.
From the analysis, a clear weekly close below the lower Gaussian boundary would signal a weakening of the bullish case and open the door to deeper downside within the channel.
BTC USD Price Signals Point to a Potential Relief Rally
The price of BTC USD could be setting up for a short-term relief rally, according to analysis shared by crypto analyst and entrepreneur Ted Pillows.
He noted that current Bitcoin price movements resemble earlier phases of the previous bull cycle, when momentum briefly reset before resuming higher.
In his assessment, Pillows compared the current weekly RSI structure with patterns seen in 2021, the final year of Bitcoin’s last major bull run.
The similarities suggest weakening momentum in the short term, but not necessarily a breakdown of the broader trend. However, he emphasized that buyer activity remains critical at this stage.
In particular, Pillows pointed to the 100-week exponential moving average, explaining that bulls need to defend this level to prevent it from slipping below the corresponding simple moving average. History shows this crossover has been costly in the past.
He recalled that the last two times this signal appeared, Bitcoin price suffered drawdowns of roughly 40% to 50% within four to six weeks. That context adds urgency to the current setup and explains why the next few weekly closes matter.
A Closer Look into Bitcoin Price Analysis
As per data shared by a popular crypto expert, UTXO Times, Bitcoin recorded its fifth Golden Cross, a key technical signal that has often preceded strong price rallies. The event while being bullish does not guarantee immediate gains, but it suggests that the broader trend could remain bullish once short-term selling pressure eases.
In addition, Trader Captain Faibik joined the growing list of analysts signaling a shift in Bitcoin price momentum. He suggested that the recent pullback has run its course and that the market is now preparing for a bullish breakout.
According to his view, the next move of Bitcoin price could unfold within days rather than weeks. He noted that once price breaks higher, sidelined traders are likely to chase the move out of fear of missing out. However, he cautioned that late entries driven by emotion often come at poor levels.
In essence, Faibik framed the current phase as a calm before the storm. The correction appears complete, while the next leg higher may reward patience rather than haste.