Don’t Get Excited For Bitcoin: The Trend Is Still Bearish, Analyst Warns
Despite a positive start to 2025 with Bitcoin breaking above $93,000 and showing upward momentum, analyst Alex Clay warns the overall trend remains bearish. Clay emphasizes that Bitcoin must stay above the SuperGuppy indicator—a combination of moving averages—to shift from a bearish outlook. Currently, the SuperGuppy acts as resistance, not support. Drawing parallels to early 2022, Clay suggests the current rally may be a "dead cat bounce" within a larger downtrend, potentially leading to a drop toward $69,000. While short-term gains toward $100,000 are possible, a sustained break above key indicators is needed to invalidate the bearish thesis. Bitcoin is currently trading around $93,415.
bitcoinist01/06 19:32
