Bitcoin's Next Critical Test at $79K, Next 3-6 Weeks Will Determine Bottom Formation: Analyst Willy Woo

Gate News message, April 28 — Crypto analyst Willy Woo shared on X that Bitcoin's next critical test is whether it can effectively break through the recent cost basis of investors at approximately $79,000. Woo estimates the probability of a successful breakout at around 30%. If Bitcoin holds above $65,000, the probability of forming a structural bottom will significantly increase.

Woo noted that Bitcoin is currently attempting to form a bottom, but all conditions are not yet in place. The next 3 to 6 weeks will be key for determining whether a bottom formation occurs.