Bitcoin (BTC) could be on track to establish a major cycle bottom near $50,000 within the next two months, according to a trading analysis.
The analysis, shared by TradingShot in a TradingView post on August 5, was based on the Coin Value Days Destroyed (CVDD) indicator, one of the most reliable signals for identifying long-term market lows.
The outlook comes as Bitcoin remains in the final stages of its current bear cycle following a sharp decline in June.
Since then, BTC has been consolidating around the shifted CVDD level, a pattern that has historically preceded the final downward leg before a cycle low is established.
Bitcoin price analysis chart. Source: TradingView
TradingShot noted that the actual CVDD is currently near $48,100 and continues to trend slightly lower. Based on historical behavior, a direct test of this level would place Bitcoin’s next major bottom around $50,000.
CVDD is an on-chain valuation metric that tracks Coin Days Destroyed, a measure of l
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