Crypto expert Crypto Bully has shared his base case for Bitcoin and what to expect before the flagship crypto breaks above $100,000. This is because BTC continues to struggle to stay above the USD 70,000 resistance escalating tensions in the Middle East.
Analyst shares base case for Bitcoin
In one X messageCrypto Bully stated that Bitcoin’s path and exact levels are not important in the long term, aside from immediate support and resistance levels. The analyst shared key points, including the observation that downside retests haven’t worked for a while. He pointed to the $85,000 level, which he noted is the logical low against the previous value generated before a further collapse due to extensive selling.
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However, the analyst suggested that the downtrend is not over yet, noting that bear market bottoms take months, not weeks. His accompanying chart showed that Bitcoin could still fall to $50,000. In the short term, he predicted that the flagship crypto could fall to $65,000. Regarding the bullish outlook for BTC, Crypto Bully stated that a break above the current level near $72,000 could easily spark a rally towards $85,000.
He explained that a Bitcoin rally to $85,000 is possible given the strength the flagship crypto has shown amid the ongoing geopolitical turmoil. The analyst added that aggressive inflows into the BTC ETFs have not subsided during this period. SoSoValue data shows that the Bitcoin ETFs posted net inflows of $767 million this week.
Crypto Bull said the best DCA strategy is to buy Bitcoin when it drops from $65,000 to $50,000. He revealed that his current spot purchase average is about $67,000.
BTC is not yet at its lowest point
A CryptoQuant Analysis noted that Bitcoin has “not quite” reached its bottom yet. The analysis showed that despite BTC’s resilience in recent times geopolitical tensionsOn-chain data indicates that the leading cryptocurrency is in a critical ‘stress test’ phase. It added that the bottoming process could be lengthy, with institutions being the main investors in this cycle.
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The analysis also revealed two paths Bottom for Bitcoin. The first path is a potential Black Swan that could cause a crash, forcing liquidations and wiping out the expensive ‘new money’. CryptoQuant noted that this is the fastest route to a solid floor, which can take between one and two months.
The second path is longer and involves a scenario where Bitcoin trades sideways between $60,000 and $80,000 for a year, allowing new money to grow into long-term holder status. In this way, the bear market could extend into late 2026 or early 2027.
At the time of writing, the Bitcoin price is trading around $71,000, down in the past 24 hours. facts from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com