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The cryptographic analyst Pejman warned that the Bitcoin price It could attend an additional short -term accident. He revealed the level of which the flagship cryptocurrency must keep to avoid these “strong drops”.
The price of Bitcoin could attend a further accident if it drops below this level
In a Post TradingViewPejman said that the price of bitcoin could record a strong drop if it drops below $ 83,500. This warning came following a bullish analysis in which it observed that BTC seems to complete the upper flag model. The analyst added that he expects the top cryptocurrency to gather up to the rise while it seems to fill The GAP CME At the interval of $ 86,000.
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This eventually happened when the price of Bitcoin gathered up to $ 88,000 in the middle of the massive volatility that occurred after Trump’s mutual rates announcement. However, Pejman suggested that the $ 88,000 rally is probably the local top for BTC, stating that there is the possibility that Bitcoin will decrease again following this increase in prices.
In addition, the Bitcoin price has since been corrected following the Gather at $ 88,000. This collapse of prices occurred when Trump revealed personalized tariff rates for countries such as China, the European Union, the United Kingdom and Japan. This move by the President of the United States should trigger a commercial war, with these countries that are sold with counter-firm, which is a bearish for BTC and the wider cryptocurrency market.
BTC could still go down to $ 78,000
Based on the cryptographic analyst Kevin Capital’s Analysis, the price of Bitcoin could soon go down to $ 78,000. The analyst observed that there is a little long liquidity at $ 78,000 to $ 80,000, but there is also a lot of liquidity in the range of $ 87,000 to $ 90,000.
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He also observed that market makers could try to transition to that range from $ 87,000 to $ 90,000 just before Trump’s tariff announcement, which happened as expected. With the price of Bitcoin that sucks the liquid from the interval from $ 87,000 to $ 90,000, it seems likely to go down to $ 78,000 to $ 80,000 to also aspire liquidity to that interval.
Despite Bitcoin Price’s downward trend in the last two months, the Crypto Rekt Capital analyst is still bullish on the trajectory of Flagship Crypto. He observed that BTC has experienced a 32% drop -down trend from mid -March 2024 in early September 2024, a pulcback that lasted almost six months before its price broke New maximums of all time (ATHS). As such, the analyst suggested that this reduction tendency is nothing to worry about since BTC could still gather for new maxims in a flash.
At the time of the drafting, the Bitcoin price is exchanged at around $ 83,000, down by more than 1% in the last 24 hours, according to data from Coinmarketcap.
In the foreground image from Usplash, a graphic designer from tradingview.com