{"id":72904,"date":"2026-04-17T09:04:40","date_gmt":"2026-04-17T02:04:40","guid":{"rendered":"https:\/\/hbbgroup.net\/bitcoin-analysts-see-further-upside-and-identify-next-price-levels-to-watch\/"},"modified":"2026-04-17T09:04:40","modified_gmt":"2026-04-17T02:04:40","slug":"bitcoin-analysts-see-further-upside-and-identify-next-price-levels-to-watch","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/bitcoin-analysts-see-further-upside-and-identify-next-price-levels-to-watch\/","title":{"rendered":"Bitcoin analysts see \u2018further upside,\u2019 and identify next price levels to watch"},"content":{"rendered":"
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Market analysts said Bitcoin\u2019s (BTC<\/a>) latest rally to $76,000 was a \u201cclear momentum shift,\u201d confirming a short-term uptrend for BTC price.\u00a0<\/p>\n

Bitcoin\u2019s short-term holder (STH) supply in profit, a measure of the share of recently acquired coins currently held at an unrealized gain, suggests that BTC\/USD has not exhausted its bear market rally, data from Glassnode shows.<\/p>\n

Local tops in bear market rallies have historically formed when this metric approaches its statistical mean of 54.2%, a threshold where the concentration of profitable STHs becomes sufficient to trigger meaningful distribution.<\/p>\n

Currently at 43.2%, the STH supply in profit remains \u201cmeaningfully below that threshold, suggesting the present rally has not yet reached the zone of typical exhaustion,\u201d Glassnode said<\/a> in its latest Week Onchain newsletter, adding:<\/p>\n

\u201cThis leaves slight room for further upside toward the True Market Mean, while also providing a quantitative level to monitor as price advances.\u201d<\/p><\/blockquote>\n

Bitcoin: Short-term holder supply in profit. Source: Glassnode<\/em><\/figcaption><\/figure>\n

Meanwhile, Bitcoin has remained in \u201cdeep under extension territory\u201d relative to its 50-week simple moving average<\/a> (SMA), currently at $96,800, analyst McKenna said<\/a> in a recent post on X.<\/p>\n

Related: <\/strong><\/em>Bitcoin traders cash out 63K BTC profit as price rallied above $76K: Will the market rebound?<\/strong><\/em><\/a><\/p>\n

When markets deviate either to the upside or downside, they usually revert back to their mean.<\/p>\n

Combined with \u201cclear momentum shifts and bullish trending signals firing then I would be inclined to be directionally bullish here, the analyst said, adding:<\/p>\n

\u201cBTC breaking above $74K and holding this level on a HTF is the final trigger I want to see to be confident in mid to high 80s over the coming weeks.\u201d<\/p><\/blockquote>\n

BTC\/USD price vs. 50-weekly SMA. Source: X\/McKenna<\/em><\/figcaption><\/figure>\n

Fellow analyst Bitcoin Archive focused on the falling US dollar index, saying<\/a> that it provides a \u201cmassive tailwind for the next leg up\u201d for Bitcoin.\u00a0<\/p>\n

US dollar index. Source: X\/Bitcoin Archive<\/em><\/figcaption><\/figure>\n

As Cointelegraph reported<\/a>, several metrics support Bitcoin\u2019s potential to rise higher<\/a>, including increasing network activity and a strengthening technical setup.\u00a0<\/p>\n

Onchain data reveals key Bitcoin price levels to watch<\/h2>\n

Bitcoin\u2019s 41% drawdown from its $126,000 all-time high<\/a> has seen the BTC\/USD pair drop below key pricing levels, including the active realized price at $85,100, the STH cost basis at $80,950 and the true market mean currently at $78,140.<\/p>\n

At $74,000, Bitcoin is 5.2% below the true market mean, a metric tracking the cost basis of active BTC supply.\u00a0<\/p>\n

While the price is yet to \u201ctest and stabilize above this key threshold, the probability of a spike toward and potentially above it remains considerable in the mid-term,\u201d Glassnode added.<\/p>\n

Bitcoin risk indicator. Source: Glassnode<\/em><\/figcaption><\/figure>\n

The importance of this resistance level is reinforced by cost basis distribution. The heatmap below shows<\/a> that over 200,000 BTC were acquired for around $78,000.<\/p>\n

Bitcoin cost basis distribution heatmap. Source: Glassnode<\/em><\/figcaption><\/figure>\n

On the downside, the first major support is at $72,000, where the 20-day and 50-day exponential moving averages (EMAs) appear to converge. It is also where investors bought approximately 220,000 BTC.<\/p>\n

Lower than that, the $65,000-$70,000 demand zone is a key area to watch. This price band has historically served as a vital support level, as seen between October and November 2024, providing a launching pad for the October 2024-January 2025 rally.<\/p>\n

As Cointelegraph reported<\/a>, a drop below the $70,000 would suggest the bears are back in control, increasing the prospects of a drop toward $60,000.<\/p>\n