The recent Bitcoin price crash According to analysts, this is not just a dip in the market; it could be one of the most critical phases for the long-term bullish structure in this cycle. Crypto market expert Tara has emphasized that this ongoing retracement is laying the groundwork for Bitcoin’s Next Big Bottom. Her analysis points to a potential Wave 5 correction that could send the BTC price down to $94,000 before the next major bullish trend begins.
Bitcoin Price Eyes Recovery After Wave 5 Retracement
In a technical analysis shared on X social media, Tara revealed that Bitcoin’s latest price correction will “probably be one of the most significant changes in a long time.” She sees the decline as an essential process that prepares the leading cryptocurrency for a strong rebound in the future. Based on her Elliott Wave Analysisthere are only two waves left before the broader market shift begins.
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The analyst notes that the main reason Bitcoin’s price crash is important is that it is the Relative Strength Index (RSI) to recover, creating ideal conditions for a bullish divergence. Subsequently, this difference could create a solid bottom for BTC, which is a crucial signal for the start of a new price renewed upward trend.
In her chart, Tara identifies a key Fibonacci Retracement zone between $103,400 and $104,900 as a resistance range for the current wave. The 0.382 Fib level is near $103,478 where Bitcoin price crosses the moving average (MA), while the 0.5 Fib level corresponds to $104,943. The analyst notes that this range could act as a crucial pivot zone before BTC resumes its correction in the future last wave 5 up to $94,000.
Furthermore, the chart shows that Bitcoin is currently retreating from a previous low near the 0.618 Fibonacci extension around $103,755.79. Trading volume has also fallen by over 48% in the last 24 hours, while the RSI remains weak at 33.96, indicating that the market is still oversold.
Why the path to $94,000 is important for the next bull cycle
In response to questions from members of the crypto community under her X post, Tara clarified that Bitcoin could first rise to $104,000, representing a 0.97% increase from current levels above $103,000, before crashing 9.6% to $94,000. She expected a price bottom will form quickly and quickly, while Bitcoin may take longer to build solid support before returning to a new bullish phase.
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Tara stated that the continuous retracing could peak around the day of its analysis, but it may still take a few days for the bottom to form. Despite the expected ‘pain’, she reassured market watchers for which the correction is necessary Bitcoin’s Next Leg Higher. She also highlighted that the market may not be bullish until mid-December 2025.
Featured image from Pixabay, chart from Tradingview.com