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Analyst: Bitcoin price faces risk of dropping to $42,000

CoinNetwork
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CoinsWorld news, analyst Doctor Profit warns that Bitcoin may repeat the bear market pattern of 2022, facing the risk of falling to $42,000. He pointed out that the current weekly chart shows the same pattern as the "death cross" of the last bear market, and identifies the $42,000-$43,000 range as the downside target. Doctor Profit recalled that in 2022, after Bitcoin broke below the 200-week moving average, a selling candle formed near $15,000-$16,000, eventually dropping 30%. He emphasized that Bitcoin has once again fallen below the 200-week moving average, and the same moving average crossover structure is forming. He believes many traders bought Bitcoin at this support level, thinking it was strong, but are now trapped below it. He expects the bottom to form in September or October 2026, and points out that the $42,000-$43,000 range is the likely bottom area for the current cycle.
BTC-1.43%
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This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
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GateUser-bee672a5
· 3h ago
Just take the analyst's words with a grain of salt; if you had followed his advice, you would have missed the market.
View OriginalReply0
SolitaryLampInTheSilentSea
· 3h ago
A 200-week line believer here. If it breaks, I'll liquidate.
View OriginalReply0
MevTeaBreak
· 3h ago
The 42000-43000 range is indeed critical; if it breaks, it will be truly dangerous.
View OriginalReply0
GateUser-4aa73916
· 3h ago
September 2026 before bottoming out? That's too pessimistic, I can't hold on.
View OriginalReply0
PeonyMemo
· 3h ago
Weekly death cross... sounds scary, but the one in 2022 was indeed accurate.
View OriginalReply0
GateUser-dd8dffab
· 3h ago
Doctor Profit is bearish again. Every time he calls for a bear market, I get nervous.
View OriginalReply0

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