Bitcoin price just tagged 200-week trend line that defined 2022 bear market

Written by William Subergstaff writerReviewed by Allen Scottstaff editorWritten by William Subergstaff writerReviewed by Allen Scottstaff editorBitcoin price just tagged 200-week trend line that defined 2022 bear marketMarketsPublishedJun 4, 2026Bitcoin brought back the trend line that functioned as resistance in the 2022 bear market, with BTC price RSI approaching its lowest in six years.Bitcoin (BTC) has tagged a key bear-market trend line with its drop to four-month lows, with a “decent chance” of a rebound next.Key points:Bitcoin revisits its 200-week simple moving average after trading above it since October 2023.The trend line functioned as resistance throughout the 2022 bear-market bottom and rebound.Bitcoin's daily RSI approaches its most oversold since 2020.Bitcoin bear-market trend line returns after nearly three yearsData from TradingView shows that for the first time since 2023, BTC/USD is back at its 200-week simple moving average (SMA).The 200-week SMA is a key yardstick during Bitcoin bear markets. The trend line, which has only ever increased with time, currently sits at $61,626.BTC/USD one-week chart with 200SMA. Source: Cointelegraph/TradingViewThe last time price interacted with it was in October 2023, but during the 2022 bear market, it functioned as resistance until bulls fully regained control.Commenting, CollinTalksCrypto, creator of the social media channel of the same name, described the return of the 200-week SMA as a “key milestone.”“Does it bounce here or keep dropping?” he queried in a post on X.“My guess is BTC has a decent chance of bouncing soon as it's been dropping pretty steeply. But honestly it's anyone's guess in the short term.”BTC/USD one-week chart with 200SMA. Source: ColinTalksCrypto/XColinTalksCrypto included a chart showing various bull and bear flags over the past several years. As Cointelegraph reported, BTC/USD has now copied its bear-flag breakdown from the start of 2026.He added that the “best bear market entries h…

Bitcoin price just tagged 200-week trend line that defined 2022 bear market

Coins in this story

Related stories

Strategy's Saylor's explanation for bitcoin's slide isn't what bears think

US Bitcoin Reserve Moving Ahead at ‘Deliberate Speed’: Bessent

Standard Chartered's three 'Ifs' that stand between bitcoin and a market low