$BTC has reached its 1W MA200 support level for the first time since 2023, a zone that historically played a major role in previous market bottoms.
Looking at past cycles, this level often signals the beginning of a bottoming process rather than the final bottom itself. If history repeats, Bitcoin could still experience more volatility before establishing a strong long-term reversal.
📊 My view: The $50,000 area remains a key level to watch in the coming months. However, traders should stay cautious as deeper pullbacks cannot be ruled out.
What do you think? Is Bitcoin close to its cycle bottom or is more downside ahead?