One trading expert stated that Bitcoin (Bitcoin) Investors We should expect the asset to reach the $100,000 level, but only after a sharp sell-off.
According to an analysis he conducted TradingShot Subscriber to A TradingView mail On April 10, the analyst noted that although there is still room for the asset to rebound, Bitcoin is still in a long bearish phase despite a modest recovery following recent macro developments.
The asset has held steady for about two months since its February low, but the recovery remains weak, failing to challenge previous highs and reinforcing the broader downtrend.
The analysis places the current stage within a six-month downturn that could extend for another six months. Based on a Fibonacci The channel pattern and patterns from the 2018 and 2022 cycles, which saw deep corrections, the current cycle could lead to an overall decline of about 70% before reaching the bottom.
Key technical levels highlighted include a potential interim low near $47,000, in line with the 350-week moving average (Master’s), and a deeper downside target around $38,000 near the 500-week moving average. These levels correspond to the previous cycle lows, where the long-term moving averages served as critical support areas.
After this corrective phase, the structure indicates a gradual recovery, with Bitcoin rebuilding momentum over time, regaining key resistance levels, and eventually pushing toward six figures.
Given this outlook, the $100,000 target is likely to be part of a longer recovery cycle, with late 2026 to early 2027 being the most likely window if historical trends and technical signals continue.
Bitcoin price analysis
These predictions come as Bitcoin continues its modest recovery. By press time, Cryptocurrency Its value is at $72,675, up approximately 0.7% in the past 24 hours, while on the weekly timeline, the asset is up over 8%.
Overall, the largest in the world Cryptocurrency It has shown resilience this week, rising from lows near $68,000 earlier in April. On Friday, April 10, Bitcoin reached an intraday high of around $73,440 before settling around the $72,000 range.
Technically, Bitcoin is hovering just below the major resistance area around $73,000 and $73,100. A clear break above this level could open the door to further gains towards $76,000 or higher in the short term, while support lies near $70,000 and $71,000.
It is worth noting that this recovery can be attributed to strong flows into the United States Spot Bitcoin ETFswhich recorded significant net inflows earlier in the week, with a single session seeing nearly $471 million, the highest daily total since February.
BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ offerings are leading the trend, suggesting continued institutional appetite even amid price consolidation.
The US-Iran ceasefire announcement also provided a tailwind for risk assets, helping Bitcoin recover from sub-$69,000 levels.
