- Bitcoin BTC shows bottom signals near 200-week moving average support
- Analyst sees upside potential toward $90K–$95K range
- Liquidations rise as Bitcoin BTC approaches $80K resistance zone
Bitcoin (BTC) is showing early signs of a potential bottom as it holds above the 200-week moving average, a level that is rarely breached outside major market shocks. With price stabilizing near $78,000 and analysts eyeing a move toward $90,000 to $95,000, traders are now watching whether this recovery can sustain momentum or fade at key resistance levels.
Bitcoin Bottom Formation Supported by Key Moving Averages
Bitcoin (BTC) shows signs of a potential bottom, according to TradingView analysis shared by Michaël van de Poppe. The Bitcoin BTC price structure suggests room for a move toward $90,000 to $95,000.
The Bitcoin chart shows a break below the 50-week moving average. However, price found support at the 200-week moving average. This level has acted as a key support zone in recent market cycles.
Van de Poppe notes that Bitcoin rarely trades below the 200-week MA outside major events. He referenced past cases like FTX and Luna collapses. These were considered extreme market conditions.
The BTC 200-week moving average is also moving higher. This shift supports the view that $60,000 may have marked a cycle bottom. Market structure is now showing early stabilization signs.
BTC Price Levels, Liquidations, and Market Reaction
Bitcoin continues to trade near $78,300 after gaining more than 2.6% in 24 hours. At press time, the Bitcoin price is up 1.63% to $78,295.73. The price briefly approached the $80,000 level during intraday movement.
Support for Bitcoin is forming in the $77,000 to $77,500 range. A break below $76,000 could lead to a move toward $74,200. On the upside, $80,000 remains the key resistance level.
Bitcoin’s strength was supported by easing oil prices and geopolitical news. The Wall Street Journal reported renewed peace discussions between Iran and the U.S. This helped improve short-term market sentiment.
Liquidations in Bitcoin BTC markets reached $281 million in 24 hours. Short positions accounted for $216 million of the total. Around $131 million in Bitcoin BTC positions were liquidated during the same period.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
