TLDR:
- Bitcoin’s 50-day and 200-day SMAs are nearing a crossover, a signal often linked to local market bottoms.
- Analyst Colin Talks Crypto expects a potential bottom in mid-November, supported by historical trend data.
- A wick to the $98,000 range may still align with a bullish cycle, based on long-term structural patterns.
- The analyst predicts the bull cycle could extend into early 2026 as traders underestimate market duration.
Bitcoin’s price may be close to finding its next bottom, according to market watchers tracking key technical signals.
A top analyst expects the cryptocurrency to stabilize in mid-November as two major moving averages approach a crossover point. This setup has often aligned with market lows in previous cycles.
The current downturn has tested investor patience, yet some believe the broader trend still favors a bull market. The coming weeks could decide whether Bitcoin maintains its long-term strength or slips further before recovery.
50-Day and 200-Day Averages Signal Possible BTC Bottom
Crypto analyst Colin Talks Crypto suggested that Bitcoin could reach a local bottom around mid-November.
He based this on a projected intersection between the 50-day simple moving average (SMA) and the 200-day SMA. Historically, this technical pattern has marked several local bottoms for Bitcoin.
In his analysis shared on X, he indicated that the two averages are set to meet soon, creating a potential pivot point for the asset’s price. According to him, the 50/200-day crossover often signals a market reset before the next upward leg.
The analyst said that a wick down to the $98,000 range could still align with a bull market structure. That level holds strong support confluence, suggesting it may act as a base for the next rally.
His view aligns with a broader belief that Bitcoin remains structurally bullish despite recent weakness.
Bull Market Sentiment and Cycle Extension
Colin also explained why he believes the bull market is intact.
He pointed to BTC’s position above the 50-week SMA, noting that the market has yet to close below it. He emphasized that long-term holders have not shown signs of capitulation, a behavior often seen at true cycle tops.
The analyst argued that the absence of euphoric sentiment and overheated metrics signals room for another major leg higher. He said that many expect a peak in Q4 2025, but this cycle could stretch into early 2026. This drawn-out phase, he added, is creating frustration among traders in altcoins who were unprepared for the slower pace.
He credited IntoTheCryptoverse for pointing out that such SMA crossovers, often called “death crosses,” tend to mark exhaustion points before recovery phases.
