Bitcoin Expected to Test Lower Levels Before Bull Market Resumes
Market analysts anticipate a correction in Bitcoin�s price to around $104,000, suggesting it could be the last major decline before the next leg of the bull market. This projection is based on recurring technical patterns and key support levels observed since the current cycle began in mid-2023.
Technical Indicators Signal Potential Correction
The 50-week simple moving average (SMA), currently at approximately $102,500 according to TradingView, remains a long-term support level for Bitcoin. Analysts note that price has tested this area four times since 2023, each time triggering a strong rebound. Despite significant leverage and liquidity concentrated near $104,000, analysts believe the market may revisit this key zone.
- 'Sykodelic', a market analyst, highlighted that the most recent significant touches of the 50-week SMA occurred in April 2025, when Bitcoin fell to $74,000, and August 2024, when it dropped to $49,000. In both instances, sentiment was negative before the market reversed sharply.
- 'Negentropic', another analyst, stated that the anticipated move could be the final major flush before further gains.
Analysts Highlight Key Support and Market Resilience
Nick Ruck, director at LVRG Research, told Cointelegraph that Bitcoin�s fundamentals and growing institutional interest continue to provide a strong backdrop for a market rebound after a correction. "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," Ruck said.
Meanwhile, 'Daan Crypto Trades' pointed to the 200-day exponential moving average as another key area of support, noting that although Bitcoin�s price has fluctuated near this level during uncertain times, the long-term trend has largely held.
Short-Term Price Action
Bitcoin has traded in a narrow range over the past 24 hours, stabilizing around $108,000. The level now acts as a support-turned-resistance zone. Prices briefly spiked to $113,000 earlier in the week before dropping back below $108,000, with current consolidation suggesting traders are closely watching for a break in either direction.
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