When Will Bitcoin (BTC) Reach a Bottom? | Credit: Veronica Cestari
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Key Takeaways
The Bitcoin (BTC) price has fallen by 14% since its all-time high.
Bitcoin is creating its fourth successive bearish weekly candlestick.
Is the Bitcoin bottom close, or will the correction deepen?
Bitcoin faces selling pressure after sliding 14% since its all-time high.
BTC has created four consecutive bearish weekly candlesticks, raising fears of a deeper decline.
Let’s examine the charts and determine where Bitcoin can reach a bottom.
Why is Bitcoin Going Down?
Bitcoin has been sliding since hitting its all-time high of $124,517 at the start of August, shedding nearly 14% of its value.
The asset is now forming its fourth straight weekly red candle, with price action hovering just above a critical support level around $103,500.
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The concern isn’t just the depth of the pullback—it’s the warning that the correction may not be finished.
BTC appears to be trading within an ascending wedge, a bearish formation that often precedes breakdowns. That structure was confirmed when Bitcoin printed a shooting star candlestick at its record high.
If the wedge holds, Bitcoin could find support near $98,000 before making its next move.
However, the setup also leaves room for another retest of resistance, meaning a fresh all-time high isn’t completely off the table before any breakdown.
Adding to the uncertainty, momentum signals are flashing red.
Both the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) showed bearish divergences ahead of the drop, suggesting that bulls may still have some work to do before reclaiming control.
The RSI is almost below 50, while the MACD has made a bearish cross (black icon), a bearish sign supporting a bearish Bitcoin prediction for the rest of 2025.
The only bullish scenario would be if Bitcoin repeats its April deviation pattern, where the RSI briefly dipped below 50 before quickly reclaiming it and rallying to new highs.
Bitcoin’s weekly chart suggests that the correction is not finished and the bearish pressure could continue throughout the rest of 2025.
Bitcoin Price Analysis
The short-term six-hour chart finally provides some bullish signs.
It shows that the price of Bitcoin has traded inside a descending parallel channel since the all-time high.
The channel usually contains a corrective pattern, so its creation means that the decline is a correction rather than the beginning of a new long-term downward movement.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
