It looks like Bitcoin's (BTCUSD) price action is playing out similarly to the previous price cycles. Bitcoin's price tends to rally for about three years. This is followed by a bear market that lasts about one year. One year from the peak price of $126k will take us to about September/October of 2026.
A bear flag exists on the weekly chart. I see the possibility for bitcoin's price to break below the bear flag formation for another leg down. I estimate the potential bottom at about 38k, which would be a 70% decline from the peak. That would be less than the 78% drop from the last price cycle (each cycle experienced a shallower percentage decline).
The last price cycle bottom formed a bullish divergence as the price made a lower low, while the RSI made a higher low. I think a similar formation could occur this time. That would create a great buying opportunity as each price cycle bottom has.
David Zanoni
A bear flag exists on the weekly chart. I see the possibility for bitcoin's price to break below the bear flag formation for another leg down. I estimate the potential bottom at about 38k, which would be a 70% decline from the peak. That would be less than the 78% drop from the last price cycle (each cycle experienced a shallower percentage decline).
The last price cycle bottom formed a bullish divergence as the price made a lower low, while the RSI made a higher low. I think a similar formation could occur this time. That would create a great buying opportunity as each price cycle bottom has.
David Zanoni
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