The Last Shakeout Before Bitcoin’s Major Reversal: Expecting the $50,000 Scenario
CryptoQuant analysts, who examine data on the Bitcoin (BTC) network, predict that the downward trend is weakening and that a strong trend reversal could occur in the market following a final wave of selling that could take place around $50,000.
The cryptocurrency market leader, Bitcoin, has begun to show signs of fatigue in the long-running bear market. Experts analyzing price movements state that the shortening of sell-off waves and efforts to stabilize above the $60,000 level indicate that the current downtrend is losing strength. This proves that the selling appetite in the market is no longer as dominant as it once was and that buyers are gradually stepping in.
According to the Elliott Wave theory, one of the technical analysis methods, a structure called “ABC correction” is being observed. This structure predicts that the price will decline to a broad target zone between $35,564 and $62,413. The fact that the current price has reached the upper limit of this zone increases the probability of a medium-to-long-term cyclical reversal with each passing day.
Critical Support Levels for Bitcoin
According to analyses, the price is expected to move toward the 61.8% Fibonacci support at $51,336 for the final shakeout operation before the rally. The $50,000 region is not just a technical level; it is also supported by critical data such as the March 2022 peak, the Realized Price, and the 200-week simple moving average (SMA). Historically, these levels have played a key role in identifying the bottom of bear markets.
Technical indicators on the charts also support this optimistic outlook. While the price makes lower lows, the momentum-measuring MACD indicator making higher lows indicates that a bullish divergence is forming in the market. Furthermore, the price being in the oversold zone and the sudden increase in trading volume at low levels clearly demonstrate the buying pressure coming from these levels.
What Does a Cyclical Reversal Mean?
In light of this data, it can be said that the final stages of the prevailing downtrend in Bitcoin have been reached. Although the risk of one last sharp sell-off wave remains on the table in the short term, the vicinity of $50,000—where technical and on-chain parameters converge—could be the starting point for a new upward wave.
This weakening downward momentum in the market is considered a harbinger of a cyclical change rather than a simple search for a “bottom.” Maintaining critical support levels will set the stage for Bitcoin to regain its upward momentum.