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Breaking News: XRP Price Target At $18,000: Expert Says—Only One Condition Must Be Met
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Breaking News: XRP Price Target At $18,000: Expert Says—Only One Condition Must Be Met

Can Bitcoin Buyers Join The Breakout Party? Analyst Says Not Yet

Opeyemi Sule
Opeyemi Sule
Last Updated: April 18, 2026 7:00 pm
2 mins read
Bitcoin

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Bitcoin seems to have finally broken out of weeks of stagnation with an 11% rally, signaling a notable shift in its market momentum. Expectedly, this move has drawn renewed attention from various market participants who may be eager to re-enter the market.

However, an influential on-chain analyst has come out to explain why Bitcoin traders should be cautious during this phase of the cycle. According to the market pundit, the most optimal entry point might actually not be close to current price levels.

MVRV Ratio, Realized Price Reveal Short-Term Strength, But Not Market Top

In a recent Quicktake post on the CryptoQuant platform, on-chain analyst GugaOnchain delved into the reasons why it might not be time to re-enter the Bitcoin market. The pundit began by highlighting changes in the Market Value to Realized Value (MVRV) Ratio, alongside that from the Realized Price metric.

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According to GugaOnchain, the MVRV ratio currently sits above its 30-day moving average of 1.2947, indicating that Bitcoin’s recent upward price movement has gained validity. Supporting this trend, the Bitcoin Taker Buy/Sell Ratio on Binance has also shown increased buying aggression, reinforcing the notion that market participants are actively pushing prices higher.

Bitcoin
Source: CryptoQuant

Meanwhile, the bigger macroeconomic picture shows that the market is yet to enter an overheated phase. This is because the current MVRV reading around 1.3856 is significantly lower than the SMA-365 (known as the macro line), which stands at around 1.8620.

Technical Indicators Signal Overextended Bitcoin Market — Correction Next?

From a price action perspective, though, the Bitcoin price might indeed be due for a retracement. According to the market pundit, Bitcoin recently broke out of an ascending channel resistance on the daily timeframe — a move typical of bullish continuations. 

However, the Relative Strength Index (RSI) is now showing signs of strain. This is due to recent RSI readings at 67.85, which stands near the overbought region at 70. 

As such, the Bitcoin market has higher chances of a pullback in the near-term. The analyst then concluded that it would be best to buy Bitcoin “not at this resistance breakout,” but at the bottom of the retracement instead. 

In the scenario where the Bitcoin price pulls back, the crypto expert explained that this would be towards a “channel support” — specifically at levels between $70,000 and $65,000. As of this writing, the price of BTC stands at around $77,014, reflecting a 2.8% jump since the past day. 

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The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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