Bitcoin Price Bottom Close: What to Expect

Bitcoin may be nearing its long-term support zone, but a technical analyst believes the market has not reached that moment yet, with the bitcoin price bottom close but still a potential crash below $60,000 left. The current price action may be narrowing to form a bottom.

Bitcoin's Weekly Moving Averages

An interesting technical analysis points to Bitcoin’s weekly moving averages as the clearest guide for where this decline could finally exhaust itself. The 200-week moving average and the 300-week moving averages are the structural backbone of Bitcoin’s macro price history.

Key Moving Averages

• 200 WMA: $59,268
• 300 WMA: $51,805

Bitcoin Price Action

Bitcoin has been in an extended downtrend since October 2025, down by almost 50% from its all-time high above $126,000. The bitcoin price now hovering around $70,000, and a growing body of technical evidence shows the price action is trading at an accumulation zone.

Past Market Cycles

In the 2018 bear market, Bitcoin found its floor precisely at the 200 WMA, which was the end of an 84% drawdown from the prior cycle peak. The March 2020 COVID crash sent the Bitcoin price straight through the 200 WMA and into the 300 WMA before reversing sharply.

Bitcoin Price Predictions

According to a weekly chart analysis, Bitcoin is converging on two long-term moving averages that have defined every major cycle bottom since 2018, and the final leg down could still take price below $60,000 before a floor is established.

Key Takeaways

• Bitcoin may be nearing its long-term support zone, but a crash below $60,000 is still possible.
• The 200-week moving average and the 300-week moving averages are key levels to watch.
• Bitcoin has been in an extended downtrend since October 2025, down by almost 50% from its all-time high.
• The current price action may be narrowing to form a bottom.

Frequently Asked Questions

What is the current bitcoin price?

The current bitcoin price is around $70,000, but it may still dip into the upper end of the support band around the 200-week moving average.

Will bitcoin reach a new all-time high?

It's possible, but the market needs to establish a strong support zone first, which may be around the 200 WMA or 300 WMA.