Bitcoin has been in a notable state of flux Recently, after recovering from a crash below $60,000. and setting support above $61,000. The market remains bearish as Bitcoin, the original cryptocurrency, has failed to surpass important resistance points like $63,500. In the midst of this, a crypto analyst predicts that Bitcoin’s crash will not end anytime soon. forecasting much lower figures It is more than you anticipated.
Crypto Analysts Call Out Bitcoin Possible Crash to $35,000.
Alan Santana, a crypto analyst has released a brand new study on the Bitcoin market. predicted Possible price crashes in the near-future. This analysis was published on TradingView’s website. It takes into consideration the performance of cryptocurrency in the past, and identifies various factors such as the maximum pain.
Related Reading
Santana says that the current maximum point of pain for Bitcoin is between 0.618 and 0.7886 Fibonacci levels. It means that the Bitcoin price This analysis shows that the market is still far from being at its lowest point. Fibonacci Retracement Levels are so low at the moment.
According to this crypto analyst, the market will crash further with the pain points maximum being between $34,900 and $40,855. This prediction means the Bitcoin could drop as much as 45% if this happens.
Even though the analyst had expected a price crash of this magnitude, he does not think that it will continue to drop. He even points out the fact that the Bitcoin price The price will never drop below $30,000 again.
Crypto analyst closes the report with a few words of advice for traders and investors. “Update your numbers, update your trades, update everything. These are the new numbers.”
Not Everyone Is Bearish
Although Alan Santana has predicted a very negative outcome for Bitcoin, it is not the only analyst who believes this. The 20% is actually a very good deal. BTC price crashSome crypto analysts think that the worst has already passed and the first cryptocurrency will soon see a rebound.
Related Reading
Dr Bitcoin is one of many crypto analysts that predict a price increase. posted TradingView.com published his TradingView analysis. A harmonic pattern in BTC has led the analyst to believe that this is a good time to purchase BTC. chartThe pattern of the arrows indicates that a bullish reverse is underway. Doctor Bitcoin’s target is $85,000. That would be a rise of 35% over the current level.
Bitcoin’s price at the moment is $62,800. That represents an increase of 2.26% in the last day.
Featured Image created using Dall.E and chart from Tradingview.com
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com