Bitcoin’s rally is entering a fragile stage as traders grow cautious about losing critical technical ground, according to market analyst Colin Talks Crypto.
After months of strength, the recent pullback has pushed the cryptocurrency to what he describes as a “make-or-break zone” that could determine whether the current cycle continues or reverses.
In his latest market outlook, Colin pointed to a confluence of key supports around $98,000, which he considers the threshold separating a healthy bull market from a potential downturn. This level aligns with multiple long-term indicators, including the 50-week moving average and an extended trendline dating back to 2021. If Bitcoin fails to maintain this region, he warned, the market could slide into a deeper correction phase.
Colin noted that recent trading activity has shown signs of fading momentum, with weekly closes hovering precariously above the critical support zone. “The structure hasn’t broken yet, but the energy behind this rally is clearly softening,” he suggested in his X update. Historical patterns show that two weekly closes below the 50-week average often precede prolonged bearish stretches, adding urgency to the current setup.
Despite the caution, the analyst remains optimistic about a recovery later this year, predicting that a strong rebound could still carry Bitcoin to new highs before December. The market’s 17-18% pullback from its peak, he explained, remains within the range of normal volatility for bull markets – and could even serve as a reset before renewed growth.
Still, he warned that investor sentiment is increasingly tied to this single support region. If Bitcoin manages to hold the $98,000 floor, Colin believes confidence could quickly return; if not, the market may have already seen its local top. “The next few weeks will tell us if this is just a cooldown – or the end of the party,” he concluded.
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Source: https://coindoo.com/bitcoin-faces-a-make-or-break-moment-at-98000-heres-why-it-matters/