Historical Performance Says Bitcoin Price Will Not Bottom Until It Touches This Level
Crypto analyst Chain Mind has indicated that the Bitcoin price has yet to bottom. He alluded to historical performance, which shows that BTC has never bottomed without touching the EMA 300. Bitcoin Price Unlikely To Bottom Before Touching This Level In an X post, Chain Mind indicated that the Bitcoin price is unlikely to bottom out without first touching the EMA300. He noted that BTC has never bottomed without touching this level, as it did in 2020 and 2022, when it tagged the weekly EMA300 right before the cycle low. Specifically, Bitcoin’s bottom came 10% below the EMA in 2020 and 15% in 2022. Related Reading: Bitcoin Is Repeating This Midterm Pattern That Sends Price Tumbling 15% On Average The analyst noted that in this cycle, the Bitcoin price bounced from $60,000 without ever reaching the EMA, suggesting the real bottom isn’t in. He added that if the pattern repeats, BTC must drop to around $58,000, marking the last bottom in this bear cycle. In another X post, the analyst indi