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Bitcoin is currently in a consolidation phase, with the price neither rising nor falling significantly. The market appears uncertain about the next move for both Bitcoin and the broader crypto market. While sentiment remains largely bearish, there are tentative signs of a recovery.
The coming weeks could be decisive: will the bull market renew itself, or will the decline be reinforced? To gain more insight, we look at the analysis of a well-known crypto market analyst.
Analysis by Sjuul Follings #
Sjuul Follings is a widely followed analyst on X, with over 450,000 followers. He recently published a post discussing Bitcoin’s future price action.
He has created a chart using what he calls bearish and bullish deviations.
According to Follings, the red lines in his chart indicate the boundaries for bullish and bearish deviations. The lower red line acts as support, while the upper two lines serve as resistance. When the price drops below the lower red line, he refers to it as a bullish deviation; conversely, a bearish deviation occurs when the price is higher.
He explains his analysis:
“It’s time to update the bearish deviation I’ve been tracking for a while. This one has fully played out. The price has fallen back to the bottom of this large range and is testing the low at $89,000. It is crucial that the $89,000 level is retested to enable a move towards the upper band of the range at $110,000.”
In follow-up posts, he notes that Bitcoin has so far formed a higher low compared to the local bottom of April 9, 2025, around $76,000. If the price were to drop below that, a full-blown bear market could emerge.
According to the analyst, we are now in the same timeframe as the previous two bear markets, namely more than 500 days (now 525) after the Bitcoin halving. On the weekly chart, Bitcoin is currently in deep bear market territory.
At the same time, Follings emphasizes that the longer-term outlook still appears bullish:
“The bulls need to show they still have conviction. We will soon see which way we are going.”
He concludes his analysis with the note that this is not investment advice and is shared for educational purposes only.