Bitcoin Price Forecast – Bitcoin Rebounding Towards $50,000

• Bitcoin is bouncing after a devastating 50%+ 3-month decline.
• Technically speaking, I see a confluence of resistance converging between $46,000 and $52,000.
• With global tensions rising, expect increased volatility in both directions.

Longer-term, I believe the 4-year cycle peaked in November 2021, and cryptocurrencies have started a 12 to 24-month bear cycle.

Bitcoin futures would have to sustain a breakout above $60,000 and followed by $70,000 to support a super-cycle to new highs.

I’m bullish on the broader blockchain sector (those producing real value) and plan to accumulate bitcoin and Defi protocols deeper into this bear market.

In summary, I think this is just an oversold bounce, and prices have further to drop before reaching a sustained 4-year cycle bottom.

AG Thorson is a registered CMT and expert in technical analysis. He believes we are in the final stages of a global debt super-cycle. For regular updates, please visit here.