Bitcoin’s price action this cycle has put long‑term technical traders on alert. After breaking through key weekly averages, analysts are increasingly pointing to a potential extended correction that could drag BTC down toward the mid‑$50,000s, with ~$58,000 emerging as a key confluence support zone.
On the weekly chart, Bitcoin has already breached shorter moving averages, and the next major level on many traders’ radar is the 200‑week Exponential Moving Average (EMA) — historically a significant support band in prior cycle drawdowns. Once BTC loses critical trend lines like the 50‑week and 100‑week EMAs, historical patterns often show price gravitating toward the 200‑week EMA as part of a deeper reset before any sustained uptrend resumes.
As per my opinion, once Bitcoin retest its 200 weekly EMA and manage its support - Then it could be the last low price of Bitcoin and we will see bitcoin will hits a new ALL TIME HIGH (ATH).
