TradingShot identified $50,000 as a possible downside target by early October if weakness returns. It also cited $41,000 as a deeper and more . Bitcoin traded at $63,631, down about 0.5% over 24 hours and 0.8% across the week. Price remained slightly above the 50-day SMA at $63,375.
At the same time, Bitcoin stayed below the 200-day SMA at $70,172. The 14-day RSI stood at 54.17, showing neutral momentum with a slight bullish bias. sellers appear to be losing momentum after Bitcoin spent early August between $63,500 and $65,000. The firm did not confirm that the market had reached a cycle bottom.