Bitcoin held above its 200-week simple moving average at roughly $61,880 over the weekend and recovered about 6.5% from a local low near $59,100 to an intraday high roughly $62,950, setting a technical path that points to the 50-week SMA near $92,630 as the next major upside target, according to TradingView charts and commentary from analyst Filbfilb.
The tech-heavy Nasdaq Composite (IXIC) plunged more than 4% on Friday, its steepest one-day drop since April 2025, and Filbfilb framed Bitcoin’s dip below $60,000 as a possible shakeout so long as the 200-week SMA holds.
TradingView data show the Nasdaq’s weekly relative strength index fell to 62.46 from about 74.75 and that every weekly RSI decline from above 70 since 2021 has pulled the index back toward its 20-week SMA near 22,905 points, implying a potential decline of roughly 10.75%, while the Bitcoin-to-Nasdaq ratio’s daily RSI registered 14.70, the lowest on record versus the prior 14.88 in February that preceded a more than 30% BTC recovery.
If the Nasdaq fractal repeats, the move toward its 20-week SMA could unfold in June or by July, and the immediate market pivot will be whether Bitcoin can sustain the 200-week floor and begin mean reversion toward the 50-week SMA roughly $92,630.
