Bitcoin Drop to Perfect Bottom for 50-Day EMA, E Dey Target $148K Bounce Back
Bitcoin drop 7.5% from im record high wey near $123,250, e test di 50-day EMA again make e form “perfect bottom.” Normally, dis moving average dey give strong support, e spark 25% rebound for June after similar fallback before. Analysts talk say if e drop again reach di $110,000–$112,000 level, e go make dis base strong before di next rally. Price still test di neckline of inverted head-and-shoulders pattern. If breakout confirm, e fit drive Bitcoin go $148,250, and market people dey eye di $150,000 level for 2025. On-chain data from CryptoQuant show say whales carry profit three times—when US spot ETF approve, when e pass $100,000, and when e breakout $120,000—then each time, price go enter two to four months consolidation phase. Dis kind cooling time usually make way for more buying and new all-time highs. Di way situation dey now show say the recent drop na better reset for Bitcoin, e dey prepare ground for possible rally near $150,000.
Bullish
Bitcoin retest di 50-day EMA and the way e form ‘perfect bottom’, plus the inverted head-and-shoulders neckline test, dey show say e get strong technical foundation. History pattern show say if e do like that before, e fit pull back but e go bounce well well. Also, CryptoQuant on-chain data dey show say every time whale dem dey take profit small small then market con settle before e go high reach new all-time high. All these things mean say people dey start to gather again, e go soon push up reach $148K–$150K, so e mean say market dey bullish. For short time, traders fit see chance to buy for support level. For long time, this setup mean say momentum go stay up as market people dey wait for next breakout.