Based on past patterns, analysts believe that the crypto bull will restart after one final Bitcoin flush around $104,000.
Bitcoin’s technical long-term support indicator TradingView reports that the current 50-week moving average is around $102,500.
Analysts said that it has been a solid support for the market four times, since mid-2023 when bull markets began. It is expected to return again.
Market leverage is high and liquidity around 104,000 dollars. observed analyst ‘Sykodelic’ on Thursday.
“I know its not what any holder wants to hear, but very likely we take that out.”
“The market always feels the worst right before it reverses,” The analyst noted that Bitcoin has been in the news twice before.BTCThe indicator was hit by the markets in August 2024 when it dropped to $49,900 and April 2025 when it plummeted to $74,000.
“Both times, sentiment was absolutely fried, just like it is now. And then each time, it reversed hard after tagging that level.”
The final phases of correction
OThe following are some of the ways to get in touch with us.r analysts, such as ‘Negentropic’, shared the bearish sentimentIt is important to note that the last flush will occur.
“We are seeing a repeat of the final phases of correction in September, it seems like the profit taking this time around is less intensive.”
He added that this current system is not ideal. “opens the door to $102,000,” We are now very close to reaching a bigger reversal.
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“Bitcoin may retrace to $104,000 as part of a healthy market correction, driven by profit-taking and macroeconomic uncertainties. However, the underlying fundamentals and institutional interest remain robust, setting the stage for a strong resumption of the bull market,” Nick Ruck is the director at LVRG Research, according to Cointelegraph.
Fellow analyst ‘Daan Crypto Trades’ identified The 200-day exponential moving median was a significant area of support for most of the cycle. “There has been some chop around it during uncertain times, but in the end price never lost the trend for more than a month,” He said.
BTC is facing opposition
Bitcoin has remained relatively stable over the past 24 hours, hovering around the $108,000 level, which is a key support-turned-resistance zone.
The price briefly spiked up to $113,000 but then quickly dropped to $107,000. It settled at resistance, and has now started to consolidate.
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Source: cointelegraph.com
