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Despite the latest rally to a new all-time high (ATH) of $111,900, crypto analysts have warned that the Bitcoin worth might nonetheless witness an enormous crash that can ship it beneath $100,000. These analysts highlighted fundamentals and technicals that might spark this worth crash.
Analysts Highlight Why Bitcoin Price Could Still Crash Below $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 might spark the Bitcoin worth crash. He defined how this battle might drive traders towards safe-haven property, similar to gold. The analyst additionally famous that Bitcoin ETFs experienced modest outflows final week.
Stephan’s accompanying chart confirmed that the Bitcoin worth 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 worth motion.
In a TradingView post, Nova acknowledged that if the Bitcoin worth faces resistance across the $106,406 every day stage and continues to appropriate, it might prolong the decline to retest the psychologically essential $100,000 mark. She additional revealed that the Relative Strength Index (RSI) on the every day chart is at 53, trending downwards to the impartial stage of fifty. This signifies weakening bullish momentum.
Nova additionally acknowledged that the Moving Average Convergence Divergence (MACD) confirmed a bearish crossover final week. Meanwhile, the analyst alluded to the growing purple histogram bars beneath the baseline, which she claimed additional sign a possible correction forward. Her accompanying chart confirmed that the Bitcoin worth might drop to $99,000 because it retests the $100,000 stage.
Crypto analyst Kevin Capital also called for caution on the present Bitcoin worth stage. He acknowledged that nothing has modified for the flagship crypto and indicated that there was no should 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 Could Still Rally To $135,000 This Year
In an X post, crypto analyst Titan of Crypto raised the opportunity of the Bitcoin worth 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 practical goal. The analyst added that the construction is clear.
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Crypto analyst Mikybull Crypto stated that the Bitcoin worth 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. Meanwhile, veteran trader Peter Brandt predicted that BTC might attain $150,000 by late summer season 2025.
At the time of writing, the Bitcoin worth is buying and selling at round $105,400, down within the final 24 hours, in line with data from CoinMarketCap.
Featured picture from Getty Images, chart from Tradingview.com
