On-Chain Analyst Willy Woo Says Bitcoin Must Stay Above Key Price Level to Increase Odds of Major Bottom

On-Chain Analyst Willy Woo Says Bitcoin Must Stay Above Key Price Level to Increase Odds of Major Bottom

Analyst Willy Woo believes Bitcoin (BTC) needs to convincingly flip one key level into support to confirm the start of a bullish phase. Woo tells his 1.2 million followers on X that Bitcoin may go parabolic if the top crypto asset can break through the next major resistance level at $79,000, the cost basis of recent investors. The cost basis model is an on-chain metric that estimates the average price at which short-term Bitcoin holders acquired their coins. The metric can be used to spot potential entry and exit points. The analyst also warns that Bitcoin needs to remain above the mid-$60,000 level or there may be a more severe correction. “The next test for BTC is cleanly breaking the cost basis of recent investors ($79,000). I give it 30% odds on doing this on this attempt. After that, if BTC manages to hold this price level above $65,000 and not break down, then the chances of a stru

Source: https://dailyhodl.com/2026/04/29/on-chain-analyst-willy-woo-says-bitcoin-must-stay-above-key-price-level-to-increase-odds-of-major-bottom/