Crypto analysts, peering over their charts as if they’re crystal balls, foresee one more peculiar omen where Bitcoin might stagger like a tipsy toad to around $104,000. After all, history does enjoy its own little tango.
Bitcoin’s 50-week simple moving average, standing nobly at about $102,500 according to TradingView, has been the financial equivalent of a reliable old alehouse. It’s been that four times since the bull market burst its knickers in mid-2023 and is itching to be visited again, analysts quip.
“The market’s like a particularly spiteful old cat that hisses just before flipping itself over,” mused an analyst by the name of ‘Sykodelic’ on a particularly dreary Thursday. “I know it’s not what any holder wants to hear, but very likely, we take that out.”
“History proves that the worst the market moans, the likely the turnaround,” they added before recounting earlier episodes. Bitcoin last danced to this tune in April 2025, wearing a $74,000 hat, and again in August 2024, in its modest $49,000 getup. “And just like now, sentiment was singed to a crisp,” they sighed.
Final Acts of Market Karaoke
Another analyst, ‘Negentropic’, nodded along wearily. “This feels like a dress rehearsal for the final act of correction,” they proclaimed, “Spin around a bit less intensely for the finale.” They concluded that the stage was set for a dip toward $102,000 before a massive reversal pirouette.
Nick Ruck, worthy director at LVRG Research, observed with the air of a well-versed narrator, “Bitcoin may shimmy to $104,000 as part of a charming market correction, fueled by profit-taking and the usual macroeconomic quirks. Yet, beneath it all, the structure is sound and institutional interest still packs a punch, setting the scene for an ambitious bull market encore.”
‘Daan Crypto Trades’, ever the dreamy-eyed supporter, highlighted another crucial, albeit indecisive, metric-the 200-day exponential moving average-a cornerstone of price support, albeit one prone to some preternatural chopping in times of uncertainty. “It’s as if the entire market is waiting for the price to pick a side,” he mused wryly.
BTC Is Like That Squirrel, Dabbling in Resistance
Bitcoin, the sly critter that it is, has been strolling the tightrope at the $108,000 mark. Once it pirouetted to $113,000 like a dancer too spirited for the room, only to pirouette back down to $107,000, before settling at the resistance zone with the dignity of a circus bear on coins.
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2025-10-23 07:05