Bitcoin Price Crash Below $100,000 Still Possible: Analysts Issue Downtrend Warnings
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Regardless of the latest rally to a new all-time high (ATH) of $111,900, crypto analysts have warned that the Bitcoin value might nonetheless witness a large crash that can ship it beneath $100,000. These analysts highlighted fundamentals and technicals that would spark this value crash.
Analysts Spotlight Why Bitcoin Value Might Nonetheless Crash Under $100,000
In a TradingView post, crypto analyst Stephan talked about the geopolitical tensions, with the Russia-Ukraine battle intensifying as one of many components that would spark the Bitcoin value crash. He defined how this battle might drive traders towards safe-haven belongings, comparable to gold. The analyst additionally famous that Bitcoin ETFs experienced modest outflows final week.
Stephan’s accompanying chart confirmed that the Bitcoin value might drop to as little as $96,765 because it retests the psychological $100,000 support level. Crypto analyst Nova additionally warned that Bitcoin might drop to $100,000 whereas offering a technical evaluation of the flagship crypto’s present value motion.
In a TradingView post, Nova acknowledged that if the Bitcoin value faces resistance across the $106,406 each day stage and continues to appropriate, it might lengthen the decline to retest the psychologically vital $100,000 mark. She additional revealed that the Relative Power Index (RSI) on the each day chart is at 53, trending downwards to the impartial stage of fifty. This means weakening bullish momentum.
Nova additionally acknowledged that the Transferring Common Convergence Divergence (MACD) confirmed a bearish crossover final week. In the meantime, the analyst alluded to the rising purple histogram bars beneath the baseline, which she claimed additional sign a possible correction forward. Her accompanying chart confirmed that the Bitcoin value might drop to $99,000 because it retests the $100,000 stage.
Crypto analyst Kevin Capital also called for caution on the present Bitcoin value stage. He acknowledged that nothing has modified for the flagship crypto and indicated that there was no have to be extremely bullish at this present stage. The analyst earlier warned that issues might get sketchy on the lookout for BTC if it fails to reclaim $106,800 quickly sufficient.
BTC Might Nonetheless Rally To $135,000 This 12 months
In an X post, crypto analyst Titan of Crypto raised the potential for the Bitcoin value rallying to $135,000 this 12 months. He famous that BTC has damaged out of a right-angled descending broadening wedge, and if the worth holds above the breakout zone, $135,000 turns into a sensible goal. The analyst added that the construction is clear.
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Crypto analyst Mikybull Crypto stated that the Bitcoin value is gearing up for a brand new all-time excessive. He additional remarked that $120,000 stays a magnet for the flagship crypto on this market cycle. In the meantime, veteran dealer Peter Brandt predicted that BTC might attain $150,000 by late summer season 2025.
On the time of writing, the Bitcoin value is buying and selling at round $105,400, down within the final 24 hours, in accordance with data from CoinMarketCap.
Featured picture from Getty Photos, chart from Tradingview.com
