Bitcoin continues to be buying and selling above $60,000, however there are questions as as to whether that space has already become the macro bottom for this correction or whether or not one other crash could still drag the price back into that zone. Technical evaluation utilizing Bitcoin’s weekly RSI, prior cycle help, and the 21-week and 50-week EMA development presents the bullish facet of that development, however bears can nonetheless argue that confirmation has not arrived till Bitcoin breaks above the weekly EMA construction.
Bitcoin May Have Bottomed Already
The strongest argument that Bitcoin could have already bottomed is from the weekly RSI indicator. In accordance to the thesis shared by Cryptoposeidon on X, Bitcoin’s weekly RSI has fallen beneath 30 solely 4 occasions in historical past. The primary three got here across the January 2015, December 2018, and June 2022 lows, all of which later turned macro backside zones.
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Again in January 2015, Bitcoin’s RSI fell to about 28 when the value fell to $200. The same sample performed out in December 2018, when RSI dipped beneath 30 round $3,500, adopted by about three months of sideways accumulation earlier than Bitcoin broke increased. The third occasion was June 2022, within the depths of the bear market that adopted the Luna collapse.
The fourth studying got here in early February 2026, shortly after Bitcoin’s crash right into a backside round $63,000, and this supports the proposal that Bitcoin could have already gone by means of its main capitulation part.
The weekly candlestick timeframe chart beneath additionally reveals the RSI recovering from a low band much like the earlier bear-market backside zones, with the projected path suggesting that momentum might spend extra time rebuilding earlier than a stronger transfer returns in 2027.
Bitcoin Price Chart. Source: @CryptoPoseidonn On X
What Affirmation And Return To $100,000 Really Appears Like
The final two bear markets each took 364 days to maneuver from peak to trough. The present correction is now 236 days outdated, which leaves a 128-day window for Bitcoin to make one other low if it follows the identical timing sample.
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Nonetheless, November 2022, Bitcoin broke beneath the prior cycle’s $19,900 peak and collapsed to $15,500, spending a short interval underneath $16,000. That breakdown was compelled by the FTX implosion, a black swan occasion that liquidated billions in belongings and obliterated confidence concurrently. With out a comparable catalytic shock, present crypto market dynamics lack the mechanism to maintain costs beneath $60,000 throughout the remaining 128-day window for a backside.
Bitcoin’s long-term help band is between $58,000 and $66,000, and the February 2026 low is inside that vary. Bitcoin can nonetheless wick to $55,000 and even $50,000 in a liquidation event, however spending an extended interval beneath $60,000 would require a really robust bearish catalyst.
Then again, a reclaim and month-to-month shut above the weekly EMA and $80,000 in June 2026 would change the dialog from “Is $60,000 the underside?” to “How briskly can Bitcoin rebuild towards $100,000?” On the time of writing, Bitcoin is buying and selling at $72,860, down by 1.2% up to now 24 hours.
Featured picture created with Dall.E, chart from Tradingview.com
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