Bitcoin presents a huge buying opportunity as the bear market approaches the bottom in 2025! – Coinpedia – Fintech & Cryptocurreny News Media

Bitcoin presents a huge buying opportunity as the bear market approaches the bottom in 2025!  – Coinpedia – Fintech & Cryptocurreny News Media


Bitcoin price continues to struggle within the same price range, as the bears managed to constrain the price below $20,000. While buying volume is continually drying up, fewer opportunities for a bullish breakout may be expected. The price of BTC after a short consolidation dropped significantly from $19,600 to a bottom around $18,500.

BTC price could certainly rise above all possibilities and regain lost levels, but in the longer time frame, an extended bear market appears imminent. Bitcoin, since its inception, has been trading within a wave pattern that hits upper resistance and lower trendline during every bullish and bearish cycle. Unfortunately, the asset is closer to breaking the lower support and forming new lows that exceed expectations.

source: TradingView

BTC price has been trading within a good parabolic uptrend since the beginning which seems to have shaken up a bit. The main trend line followed from 2013 is collapsing giving huge bearish signals for the asset. If we consider Elliot Wave analysis, the asset has made a major wave and ABC is set to rebound. The target of wave C is the beginning of wave 4.

Moreover, the price of Bitcoin is below the crucial 200-day moving average levels for the first time in its history that signal a resurgence of bears. After the big breakout, the price may finally retest the trend line but it may fail to overshoot and fall hard to reach the lower support level. Unfortunately, the support decline coincides with the levels around $3000.

Therefore, if the bulls do not jump in, the price of Bitcoin (BTC) could deepen into a downtrend somewhere in 2025.

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