Crypto analysts are anticipating one more Bitcoin dip near $104,000 before the next bull market gains momentum, citing historical trends.
Bitcoin’s key long-term support, the 50-week simple moving average, currently sits around $102,500, according to TradingView. This level has acted as strong support four times since the bull run began in mid-2023 and is expected to hold once again, analysts say.
Market observer ‘Sykodelic’ noted on Thursday that significant leverage remains in the market, with a large liquidity cluster forming near $104,000.
“I know its not what any holder wants to hear, but very likely we take that out.”
“The market always feels its worst right before a reversal,” the analyst said, noting that the last two times Bitcoin touched this indicator were in August 2024, when it dropped to $49,000, and April 2025, when it fell to $74,000.
“On both occasions, market sentiment was completely crushed—just like it is now. Yet each time, Bitcoin rebounded sharply after hitting that level.”
Final Stages of the Correction
Other analysts, including ‘Negentropic’, echoed the bearish outlook, describing this as the market’s final flush.
“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.”
The analyst noted that the current setup “opens the door to $102,000,” suggesting that the market is nearing a larger reversal.
“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 strong, paving the way for a robust resumption of the bull market,” Nick Ruck, director at LVRG Research, told Cointelegraph.
Fellow analyst ‘Daan Crypto Trades’ highlighted the 200-day exponential moving average as a critical support level throughout most of this cycle. “There has been some chop around it during uncertain times, but ultimately the price never broke the trend for more than a month,” he said.
BTC Faces Resistance
Over the past 24 hours, Bitcoin has remained relatively stable, hovering around $108,000—a key support-turned-resistance zone.
The cryptocurrency briefly surged to $113,000 on Tuesday but quickly retraced to $107,000 before settling at the resistance level, where it has begun consolidating.
