Bitcoin is trading near $78,000 after failing to hold above the $82,500 resistance zone, leaving $83,000 as the level analyst Crypto Patel says must be reclaimed to change its bearish higher-timeframe structure.<\/p>\n
A rejection could put $68,000, $62,000, and eventually $50,000 back on the table, although Patel also sees a path toward $300,000 if Bitcoin\u2019s four-year cycle pattern repeats.<\/p>\n
In a September 8 post on X, Crypto Patel said<\/a> Bitcoin had been rejected from $82,500, a resistance area he had identified in an earlier analysis on September 7.\u00a0The market watcher\u2019s broader view remains bearish while BTC trades below $83,000, with a strong daily close above that level needed to invalidate the setup.<\/p>\n Bitcoin\u2019s recent recovery began around $57,800, but the move has run into resistance between $79,000 and $83,000. Patel described this area as a bearish order block, where sellers could attempt to regain control.<\/p>\n A daily close above $83,000 followed by a successful retest would open<\/a> the way towards $89,000 to $91,000 and then potentially $97,000 to $100,000, based on Patel\u2019s September 7 analysis. However, failure at resistance would leave $65,000 to $50,000 as relevant downside levels.<\/p>\n The latest CoinGecko data puts BTC at around $78,000, down 1.4% in 24 hours and barely moving across seven days. The token is still up 21% over 30 days, although it remains nearly 38% below its October 6, 2025, all-time high.<\/p>\n Short-term price action has also left room for another pullback, with Patel earlier pointing out that Bitcoin\u2019s weekly Supertrend had turned green<\/a> for the first time since November 2025, placing major support around $62,000 to $65,000. But despite the broader bullish reading, the analyst expects at least a 20% retracement before another major move higher.<\/p>\n As CryptoPotato<\/em> reported earlier in the week, the OG cryptocurrency had been testing<\/a> the $82,000 area after US spot Bitcoin ETFs recorded their second-biggest daily inflow of the year, with options traders relatively calm<\/a> ahead of US inflation data and the Federal Reserve meeting, with 18-day implied volatility around 37% to 38%.<\/p>\n In another analysis, the crypto researcher took a very different view of Bitcoin\u2019s longer-term prospects. His monthly chart pointed<\/a> to cycle tops around 2013, 2017, 2021, and 2025, with roughly 1,420 to 1,450 days separating each peak.<\/p>\n Following those highs, Bitcoin experienced deep drawdowns before entering accumulation phases, and the chart places the current market near $79,000 inside the latest accumulation zone after the 2025 peak.<\/p>\n If that historical rhythm continues, Patel projects a potential next major target above $300,000, with the chart placing a new all-time high around August 2029. But the forecast depends entirely on the cycle pattern repeating, rather than on a confirmed technical signal.<\/p>\n The post Bitcoin Must Reclaim This Level Soon or Risk Slide Toward $50K: Analyst<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin is trading near $78,000 after failing to hold above the $82,500 resistance zone, leaving $83,000 as the level analyst Crypto Patel says must be reclaimed to change its bearish higher-timeframe structure. A rejection could put $68,000, $62,000, and eventually $50,000 back on the table, although Patel also sees a path toward $300,000 if Bitcoin\u2019s […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-224507","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/224507"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=224507"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/224507\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=224507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=224507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=224507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Analyst Sees $300K Possibility If Cycle Repeats<\/h2>\n