Technicals hint Bitcoin bull market could kick off in April 2023

NEW YORK (Oct 21) As most of the cryptocurrency market has been trading without dramatic changes for weeks now, crypto traders and analysts are trying to discern whether any developments to the upside can be expected for its flagship asset and how soon.

Taking into account the Bitcoin (BTC) charts and observing historical bear market trends, the maiden cryptocurrency could be in for a bullish run, but not before April 2023, according to a tweet from crypto analyst Kevin Svenson on October 20.

Svenson identified Bitcoin cycle tops for 2013, 2017, and 2021, as well as the subsequent bullish pivots, as well as observed how long the bear markets lasted before taking a turn toward the upside.

According to the analyst, the bullish pivot after the 2013 cycle top started after 81 weeks, while the next bullish pivot started after 68 weeks of bearishness. This has led Svenson to conclude that the next bull market should begin at an average of 75 weeks after the November 2021 cycle top.

Finbold