The Bitcoin price accident started this weekend and has since seen its digital assets break below the level of support of $ 112,000. Interestingly, this accident was called by some cryptographic analysts who had underlined the weaknesses surrounding Bitcoin during this time. While their predictions are starting to take place, this report takes a look at the complete forecasts, most showing that the Bitcoin prices crash is far from finished and must proceed more deeply before finding a background.
The price of bitcoin is below $ 100,000
The Crypto Hamed_az analyst had previously stressed that the Bitcoin Prize was moving into a descending channel. As it was a downward trend, it was planned that the price of Bitcoin begins to crash, and that was the case.
There is also the fact that the price of Bitcoin has broken its line of short -term ascending trend. At the same time, he had also reached the upper limit of the downhill channel, to respect the resistance from $ 117,000 to $ 120,000. While the Bears pushed the price, the fall had started.
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This did not help that the resistance be seated at the Fibonacci retracement at 61.8%, one of the factors that triggered the corrective movement. As the short -term ascending trend line was broken, it allowed the Bears to take control of the digital assets once again.
Despite the already notable decline, Crypto analyst says that as long as the price remains less than $ 118,000 to $ 120,000, the bearish pressure will continue. The possible objective here is less than $ 106,000, but the descendant trend line indicates a low as low as $ 96,000 in the worst case.
Bears are still in control
Another pseudonym crypto analyst on the TradingView website also explained why the Bitcoin Prize is a lower. The fact that the digital asset had broken under the line of ascending trend, as well as the cloud of Ichimoku, suggests that the momentum has become lower from here.
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With the support of $ 113.00 already lost, the next targets are down. Prices should continue to crash as low as $ 108,000 before finding a background. However, there could be a takeover on the horizon if the Bulls are able to recover support between $ 113,000 and $ 114,500. But a more precise closure of more than $ 115,000 would completely invalidate the current lower movement.
Meanwhile, Crypto and Crypflow analysts on X are more optimistic after the drop. The analysis shows that the Bitcoin Bollinger bands are in a hurry again. There is also a hassled stochastic stochastic cross and an explosion of momentum. With all these developments so close to each other, the analyst believes that this is only a configuration for the price of bitcoin to be raised above.
Dall.e star image, tradingView.com graphic
