A long-term Bitcoin (BTC) technical structure is hinting at possible near-term losses ahead of a major rally, as the asset continues to hold above the $70,000 level.
In this line, analysis of the weekly chart shows a decade-long ascending trendline, often called a “parabolic guard”, that has consistently underpinned Bitcoin’s biggest bull runs, linking key macro lows and repeatedly acting as a launchpad for strong rallies.
Historical data shared by cryptocurrency analyst Ali Martinez in an X post on April 11 indicates that each test of this rising support has been followed by outsized gains.
Bitcoin price analysis chart. Source: Ali Martinez
In past cycles, rebounds from this level preceded moves of roughly 963% in 2017, about 261% in 2018, over 1,100% in 2020, and around 660% after the 2022 touchpoint.
These repeated reactions reinforce the trendline as one of Bitcoin’s most reliable long-term indicators.
Notably, the current setup shows price approaching th
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