Prominent Trader: Bitcoin Needs to Hold Above the 111-day SMA to Confirm Reversal Trend

BlockBeats News, April 23rd, prominent trader Killa (@KillaXBT) posted that Bitcoin needs to successfully reclaim and hold above the 111-day SMA to confirm a trend reversal. Otherwise, facing a strong risk of retracement within the long-term bearish trend on the weekly and monthly charts, it is currently not advisable to be bullish.

Killa, known as a BTC-focused quant trader, accurately predicted the peak of this bull market in May 2025 and has over 180,000 followers on Platform X. In mid-April, he shorted Bitcoin at $74,688 and is currently underwater.