Bitcoin traded up to $73,000 following a 9% price rally last week. However, the broader market is showing that the leading cryptocurrency is still in the bear phase that has lasted for more than six months. Interestingly, history shows that recent price movements can lead to significant returns, giving investors a medium to long-term upside.
Bitcoin Approaches Support Level As Bulls Eye Historical Recovery Run
In a X post on April 11, the well-known analyst Ali Martinez shares a positive view of the Bitcoin price chart, showing a cyclical price rally. In particular, the price increase is caused by the re-evaluation of the long-term rising trend during the maintenance period, as shown. Martinez calls this rising trend “Parabolic Guard,” describing it as perhaps the most consistent trend in Bitcoin history. Over the past 10 years, the re-evaluation of this service line has led to significant returns. In 2017, the connection of Bitcoin with this strategy brought a huge profit of 961% in the following months.
This is probably the most respected line in Bitcoin $BTC history. For almost ten years, this climbing system has been in operation "Parabolic Guard." Each touch has already begun to grow larger:
• 2017: +963% • 2018: +261% • 2020: +1,126% • 2022:… https://t.co/uIDjVPVIyx pic.twitter.com/QloO6k66OO
– Ali Charts (@alicharts) April 11, 2026
A similar event happened in 2018; however, it resulted in a low yield of 261%. In 2020, Bitcoin’s retesting of the Parabolic Guard led to a 1,126% price increase, before the 2022 bear market began. This condition was later achieved in 2022, which resulted in a 660% increase over the last four years. According to Martinez, the historical high that is rising is currently running between $56,000 and $60,000, about 20% below the current market price. Interestingly, the current low is around $60,000, which Bitcoin made in the middle of the market’s biggest sell-off in early February.
According to Martinez’s latest post, the market may need to bounce back to this market to end the bear market and start a long-term recovery. A well-known expert also explains that the correlation of Bitcoin with Parabolic Guard can delay the accumulation of funds in anticipation of the next increase in price.
Bitcoin Market Overview
At the time of writing, Bitcoin was valued at $71,508, following a loss of 1.81% on the last day. Currently, the daily sales have decreased by 27.35% and are valued at $ 26.35 billion. According to CoinCodex dataoverall market sentiment is very low, while the Fear & Greed Index is still in very fearful territory. However, CoinCodex analysts expect the Bitcoin market to improve, led by the decline in international tensions, to continue until now, with a price forecast of $79,729 in the next five days.
Image from Freepik, chart from Tradingview
