PANews
PANews|8月 01, 2026 09:18
[Analyst: Bitcoin's Correction May Be Nearing Its End, But Patience Needed for Several More Weeks] CryptoQuant analyst Darkfost stated in a post that Bitcoin is still in a clearly defined correction channel. The price remains below the 21-day and 50-day moving averages, with both averages acting as resistance. In early November, the 21-day moving average formed a death cross with the 200-day moving average, quickly confirming the correction trend. The 200-day moving average is currently far above at $72,930, and the first positive signal will be when the 21-day moving average crosses back above the 200-day moving average. The RSI momentum remains weak, with multiple failed attempts to stabilize above 50. However, a bullish divergence signal has appeared on the daily chart, and the weekly RSI is simultaneously entering a reset phase, suggesting that mid- to long-term momentum may gradually recover. From the perspective of Elliott Wave theory, wave C is still ongoing. A short-term rebound may reach around $68,000, but another downward wave will likely be needed to complete the entire correction pattern.
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