Emre Yumlu 
Crypto market analysts suggest that Bitcoin may enter one final correction phase before resuming its upward trajectory. Based on current leverage levels and historical support patterns, BTC could dip to around $104,000 before the next leg of the bull market begins.
Bitcoin 50-Week Moving Average as a Key Support Level
Bitcoin’s 50-week simple moving average (SMA) currently sits near $102,500, serving as a major long-term technical indicator. Since the bull market began in mid-2023, this level has provided strong support on four separate occasions. Analysts believe that Bitcoin is likely to revisit this crucial zone in the short term.
Market analyst Sykodelic pointed out that there is still significant leverage in the market and noted a large liquidity cluster forming near $104,000. “It’s not what holders want to hear, but it’s very likely that level will be taken out,” he said. “The market often feels the worst right before it reverses.”
Historically, Bitcoin has rebounded sharply after testing this moving average—most notably in August 2024, when the price fell to $49,000, and in April 2025, when it dropped to $74,000 before rallying again.
“Final Phase of Correction” May Be Underway
Other analysts share a similar perspective. Analyst Negentropic described the current setup as “the final phase of correction,” emphasizing that the current wave of profit-taking appears less intense than in previous cycles. “This structure opens the door to $102,000, and we are getting very close to a major reversal,” he stated.
Meanwhile, Nick Ruck, Director at LVRG Research, noted that such a pullback represents a healthy adjustment within the broader market trend. “Bitcoin could retrace to $104,000 amid profit-taking and macroeconomic uncertainty,” Ruck explained. “However, strong fundamentals and continued institutional interest are setting the stage for the next bullish wave.”
Short-Term Resistance Around $108,000
Over the past 24 hours, Bitcoin has traded within a relatively stable range, consolidating around the $108,000 level—a key area that previously acted as support but has now turned into resistance.
Earlier this week, BTC briefly spiked to $113,000 before quickly pulling back to $107,000, stabilizing near the current resistance zone. According to analysts, unless Bitcoin decisively breaks above this threshold, the correction phase could persist in the short term.
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