A long-term Bitcoin (BTC) technical structure is hinting at possible near-term losses ahead of a major rally, as the asset continues to hold above the $70,000 level. In this line, analysis of the weekly chart shows a decade-long ascending trendline, often called a “parabolic guard”, that has consistently underpinned Bitcoin’s biggest bull runs, linking key macro lows and repeatedly acting as a launchpad for strong rallies.  Historical data shared by cryptocurrency analyst Ali Martinez in an X post on April 11 indicates that each test of this rising support has been followed by outsized gains.  Bitcoin price analysis chart