Bitcoin Holding Above Gaussian Channel, Bull Market Structure Still Intact

Bitcoin is trading around $107,000 after its recent flash crash, maintaining stability to prevent further decline but is yet to return to trading above $110,000. Notably, popular crypto analyst Titan of Crypto shared a detailed Gaussian Channel analysis on X that points to Bitcoin’s macro bull structure remaining intact despite short-term ￰0￱ post, which was accompanied by a Bitcoin price chart, shows how Bitcoin’s position relative to the Gaussian Channel offers a clear view of the ongoing ￰1￱ Reading: Michael Saylor Issues Rally Cry To Bitcoin Army: “Starve The Bears!” Bull Market Intact Above Gaussian Channel Titan of Crypto noted that Bitcoin’s placement above the Gaussian Channel represents strength in the long-term ￰2￱ shown in the weekly candlestick price chart below, the green channel corresponds to bullish phases, while red regions represent bearish downturns, a prime example being the 2022 bear ￰3￱ the time of writing, the upper band is positioned around $101,300 and trending upward.

Therefore, Bitcoin’s price action around $107,000 means that it is yet to break into the Gaussian channel and its overall market structure is still ￰4￱ this, it can be inferred that Bitcoin’s current pullback from the October 6 all-time high above $126,000 is only a temporary pause within a larger bull ￰5￱ Gaussian Channel.