{"id":57804,"date":"2025-04-09T01:00:53","date_gmt":"2025-04-09T01:00:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=57804"},"modified":"2025-04-09T01:00:53","modified_gmt":"2025-04-09T01:00:53","slug":"is-74000-the-bottom-for-bitcoin-cmt-certified-analyst-says-38000-42000-is-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=57804","title":{"rendered":"Is $74,000 The Bottom For Bitcoin? CMT-Certified Analyst Says $38,000-$42,000 Is Coming"},"content":{"rendered":"

The Bitcoin (BTC) price crash to $74,000<\/a> has left traders speculating<\/a> whether the cryptocurrency has finally hit a bottom. However, a CMT-certified analyst suggests that Bitcoin\u2019s price correction is far from over. He has predicted<\/a> an even deeper pullback to $38,000 \u2013 $42,000, which he identifies as Bitcoin\u2019s final price bottom.\u00a0\u00a0<\/p>\n

In a detailed Elliott Wave-based chart analysis<\/a>, CMT-certified technical analyst Tony Severino outlines a classic 5-wave impulsive structure<\/a> that appears to have completed its final leg near $85,000. Severino\u2019s analysis highlights that Bitcoin\u2019s latest decline<\/a> to $74,000 is merely the start of a broader ABC corrective pattern, potentially driving the cryptocurrency down to a bottom in the range of $38,000 \u2013 $42,000.<\/p>\n

New Bitcoin Price Bottom Incoming<\/h2>\n

In Bitcoin\u2019s 5-wave impulse structure, Wave 1 began with a sharp bear market low, followed by Wave 2, a corrective pullback. Wave 3 marked the strongest upward move, subdivided into five smaller waves (i to v). After the market paused briefly for a pullback in Wave 4, Wave 5 kicked off with a final push toward a peak near $85,000.<\/p>\n

Following the top of Wave 5, Bitcoin\u2019s ABC corrective structure<\/a> began, marked by the red line on the chart. According to the analyst, the cryptocurrency is currently completing Wave A of this corrective pattern, which is expected to bottom out near $62,000 \u2013 $65,000 by June 2025. This price range coincides with the previous main correction zone around Wave 4, which is a common target for Wave A retracements.\u00a0<\/p>\n

Notably, a bigger concern comes after Bitcoin\u2019s possible crash<\/a> to $65,000 \u2013 $62,000. The analyst anticipates a short-lived bounce in Wave B, followed by a more pronounced decline in Wave C. This downturn is expected to push the Bitcoin price to its final bottom target<\/a> between $38,000 and $42,000 by April 2026. This pullback target further aligns with the iv sub-wave of Wave 3, which often serves as a key retracement zone during market corrections.\u00a0\u00a0<\/p>\n

Severino has confirmed through his technical analysis that the market is now in a bear phase<\/a>. His price chart incorporates cyclical timing models, marking a complete market cycle characterized by a bull market peak<\/a> in 2025, followed by a bear market extending into mid-2026. This timeline is consistent with Bitcoin\u2019s typical four-year halving cycle<\/a>, where the market reaches its peak the year after the halving event before entering a bear market phase.\u00a0<\/p>\n

Analyst Flags Death Cross In BTC\u2019s Chart<\/h2>\n

According to reports<\/a> from BarChart on X, Bitcoin has just formed a Death Cross on its price chart<\/a> for the first time since September 2024. A Death Cross occurs when the 50 Moving Average (MA) crosses below the 200 MA.\u00a0<\/p>\n

This distinct chart pattern is often considered a bearish sign, indicating that a potential downtrend might be on the horizon. Considering Bitcoin\u2019s price has declined to $78,900 at press time, the appearance of a Death Cross indicates a possibility of further breakdown<\/a> and consolidation.<\/p>","protected":false},"excerpt":{"rendered":"

The Bitcoin (BTC) price crash to $74,000 has left traders speculating whether the cryptocurrency has finally hit a bottom. However, a CMT-certified analyst suggests that Bitcoin\u2019s price correction is far from over. He has predicted an even deeper pullback to $38,000 \u2013 $42,000, which he identifies as Bitcoin\u2019s final price bottom.\u00a0\u00a0 In a detailed Elliott […]<\/p>\n","protected":false},"author":0,"featured_media":57805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57804"}],"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=57804"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57805"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}