Analyst: Bitcoin may be forming a bottom, 200-week SMA becomes key observation level again.

Deep TechFlow news, June 27 – Ali Charts stated that Bitcoin's current price action suggests a market bottom may be forming, and the present phase could be one of the most attractive long-term positioning windows in the past decade.

He pointed out that the 200-week simple moving average (SMA) has long been a key technical indicator for identifying Bitcoin cycle bottoms. Historical data shows that after Bitcoin touched or fell below this moving average in 2015, 2018, 2020, and 2022, each instance triggered a new upward cycle, making this level typically regarded as a macro accumulation zone for long-term capital.

Currently, Bitcoin's 200-week SMA is around $63,500, while the spot price is approximately $60,000, still slightly below this critical level. Ali Charts believes that if the price can reclaim and confirm the 200-week SMA as support, historical experience suggests this often marks the early stage of a new bull run.

However, he also cautioned that Bitcoin still faces the possibility of further corrections to $54,000 or even $40,000. Therefore, he advises long-term investors to accumulate positions in batches within the $58,000 to $40,000 range to lower entry costs. It should be noted that the above views represent the analyst's personal judgment and do not constitute investment advice.