Important takeouts:
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Bitcoin’s 50-day EMA bounce coincides with a bullish pattern targeting $148,000.
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The 80,000 BTC cell-off for the Old Whale shows the third wave of profits, which is often a prelude to recovery.
Bitcoin (BTC) fell 7.50% three weeks after establishing a record high of around $123,250. But analysts say this could be the last shakeout before the breakout to $150,000.
BTC holds important moving average support
On Sunday, Bitcoin retries its 50-day exponential moving average (50-day EMA, red wave) as support after a temporary immersion of under one day ago.
The 50-day EMA served as a reliable level of support to launch a fresh gathering. For example, in June, a short drop below the support of this wave preceded a sharp rebound of 25%.
Related: Bearish Arthur Hayes says Bitcoin can trace it to $100,000 with a macro headwind
Currently, BTC appears to be repeating the same setup. Analyst Bitbull says cryptocurrency could receive something like June in the coming days.
He argues that dropping in the $110,000-112,000 range could establish a “perfect bottom” for Bitcoin and raise the stage for the next leg.
Classic technical breakout targets $148,000
50 days of EMA support is further aligned with Bitcoin’s common reverse shoulder (IH&s) pattern neckline.
After breaking over this neckline, BTC pulled back to retest it – a typical post-destruction move – bouncing back, enhancing the validity of the bull inversion setup.
A successful neckline retest indicates that Bitcoin could enter the continuation phase of breakouts. The IH & S pattern is targeting the move to $148,250.
This is close to the widely anticipated $150,000 BTC rise target for 2025, with many analysts expecting it to happen around October.
The old Bitcoin Zilla’s $9.6 billion selling is bullish
Onchain data further shows that a continuous price drop in Bitcoin could lead to another major breakout.
Bitcoin has seen three major profit acquisitions from whales in the bull market from 2023 to 2025, according to data from Cryptoquant.
The first was followed by the launch of the US Spot ETF in March 2024. The second came after the BTC defeated $10,000 after the Trump election in late 2024. The third occurred in July 2025 after a breakout of over $120,000 caused a sale of 80,000 BTC by old whales.
Each wave of profit acquisition is written to Crypto-class analysts in a report published Friday, ahead of a period of price consolidation or medium revisions that lasts two to four months.
“These cooling stages have historically renewed accumulation and set a breakout stage to a new history-high that follows,” they say.
“This data provides compelling evidence that the market is experiencing another periodic cooling phase, consistent with previous waves that precede the period of integration and subsequent breakouts to prices.”
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
