Crypto analysts are forecasting a potential final dip for Bitcoin (BTC) near $104,000 before the next bull market kicks off — a move rooted in historical support trends and market leverage concerns. The 50-week simple moving average (SMA), currently around $102,500, has proven to be a strong long-term support, holding Bitcoin up on four occasions since mid-2023. Market experts believe this level is likely to be tested again.
Analyst Sykodelic pointed out the significant liquidity clustered near $104,000 and noted, “I know it’s not what any holder wants to hear, but very likely we take that out.” Reflecting on past market cycles, they highlighted how Bitcoin hit similar bottom points in April 2025 and August 2024, times when sentiment was extremely negative — conditions similar to today — before experiencing sharp rebounds.
Other analysts, including Negentropic, agree with this outlook, describing the current phase as the “final flush” of the correction. This period seems milder than previous profit-taking events but still paves the way toward a support area near $102,000 and a forthcoming larger reversal.
Nick Ruck, director at LVRG Research, emphasized that this retracement to $104,000 is a healthy correction fueled by profit-taking and macroeconomic uncertainty, but added that the fundamentals and institutional interest remain strong, laying the groundwork for a robust bull market resurgence.
Daan Crypto Trades further identified the 200-day exponential moving average as a crucial support level, noting that while Bitcoin has fluctuated around this marker during uncertain times, the overall upward trend has remained intact.
Presently, Bitcoin is holding steady around $108,000 — a key zone that recently shifted from support to resistance. While it briefly surged to $113,000 on Tuesday, the price retreated and consolidated near the $108,000 resistance level. This consolidation phase hints at a market poised for movement once the correction concludes.
For a detailed analysis and updates, visit the full article at Cointelegraph: https://cointelegraph.com/news/analysts-see-final-flush-104k-before-bull-market-resumes