Top Analyst Reveals if The Bitcoin Price Crash is Over

The post Top Analyst Reveals if The Bitcoin Price Crash is Over appeared first on Coinpedia Fintech News

Bitcoin’s sharp decline in recent months has left investors questioning whether the worst of the sell-off has passed or if further downside is still ahead. According to market strategist Gareth Soloway, current chart patterns hint at a mixed outlook, with short-term strength possible but longer-term risks still present.

Short-term bullish signals emerge

Bitcoin is currently trading near the mid-$60,000 range after falling significantly from earlier highs. Soloway says recent price action shows a short-term bullish setup forming within a larger negative trend.

He described the situation as “a macro bearish pattern inside a micro bullish pattern,” meaning that price action over the next several days or weeks could favor a rebound even though the broader multi-month trend remains weak. Technical indicators such as reversal candles and consolidation patterns show the possibility of a near-term bounce.

Such counter-trend rallies are common during larger corrections, as traders temporarily buy dips before the broader direction becomes clearer.

Macro trend still signals downside risk

Despite the short-term positive signals, the broader chart structure continues to show lower highs and lower lows, a typical bearish pattern. Soloway said that the larger structure resembles a “bear flag,” which historically often resolves with additional downside movement.

He warned that if key support levels fail, further declines could follow. In particular, a break below the $60,000 region could open the door for deeper losses, potentially pushing prices toward significantly lower support zones.

Resistance zone between $80,000 and $85,000

On the upside, there is a strong resistance area between roughly $80,000 and $85,000, where previous price pivots created heavy selling pressure. A sustained move above this region would be needed to invalidate the broader bearish structure and signal a stronger recovery.

Until such a breakout occurs, many traders expect Bitcoin to remain in a volatile consolidation phase, with intermittent rallies followed by renewed selling pressure.

Longer-term scenario depends on global market conditions

Soloway added that broader financial market conditions, particularly the performance of equities, could play a major role in Bitcoin’s next major move. If global markets experience a significant correction, crypto assets may face additional pressure as investors reduce exposure to riskier holdings.