Bitcoin Dips to Perfect Bottom at 50-Day EMA, Targets $148K Rebound
Bitcoin dipped 7.5% from its record high near $123,250, retesting the 50-day EMA to form a “perfect bottom.” Historically, this moving average has provided strong support, sparking a 25% rebound in June after a similar pullback. Analysts note that a further dip toward the $110,000–$112,000 range could solidify this base ahead of the next rally.
Price action also retested the neckline of an inverted head-and-shoulders pattern. A confirmed breakout is set to drive Bitcoin toward $148,250, with market watchers eyeing the $150,000 milestone for 2025. On-chain metrics from CryptoQuant reveal three waves of whale profit-taking—around U.S. spot ETF approvals, the $100,000 breach, and the $120,000 breakout—each followed by two- to four-month consolidation phases.
These cyclical cooling periods have historically paved the way for renewed accumulation and fresh all-time highs. The current setup suggests that the recent pullback is a healthy reset for Bitcoin, laying the groundwork for a potential rally near $150,000.
Bullish
Bitcoin’s retest of the 50-day EMA and formation of a “perfect bottom,” combined with the inverted head-and-shoulders neckline test, signals a strong technical foundation. Historical patterns show similar pullbacks lead to significant rebounds. Additionally, CryptoQuant’s on-chain data highlights cyclical whale profit-taking followed by consolidation phases that paved the way for fresh all-time highs. These factors point to renewed accumulation and an imminent upside push toward $148K–$150K, supporting a bullish outlook. In the short term, traders may see buying opportunities at support levels. In the long term, the setup suggests sustained upward momentum as market participants await the next breakout.