Analyst: Bitcoin is forming a bottom, suggesting a favorable entry opportunity at this time.

Crypto analyst Ali Charts said in a post that Bitcoin chart signals indicate a market bottom is forming, and the current period may be one of the better long-term entry windows over the past decade. Over the last 10 years, the 200-week simple moving average (SMA) has served as a critical benchmark for identifying Bitcoin cycle bottoms. Historically, whenever Bitcoin has touched or fallen below this MA, it has typically opened a macro accumulation window. He cited examples: Bitcoin hit the 200-week SMA in August 2015, triggering a bull run that pushed its price up over 8,500%; it tested the MA in December 2018 before rallying 267%; during the March 2020 liquidity crunch, Bitcoin validated the 200-week SMA as support, then surged 1,125%; and in June 2022, Bitcoin broke below the MA for the first time, consolidated under it until December 2022, and once it reclaimed the level, it rallied 680%. Currently, Bitcoin’s 200-week SMA stands at $63,500, while the cryptocurrency trades at roughly $60,000, slightly below that level. Based on a decade of market history, he views this as a key accumulation zone for long-term investors. He also noted Bitcoin could still dip further to $54,000, or even $40,000. As such, he recommends dollar-cost averaging into positions across the $58,000 to $40,000 range to build exposure in the technically discounted area. The $63,500 level is a critical watchpoint: once Bitcoin reclaims the 200-week SMA on the higher time frame and confirms it as macro support, history shows this typically marks the early stages of a new bull market.