A new technical analysis on TradingView indicates that Bitcoin may come close to a decisive moment, with a possible collapse less than the main support levels. This analysis comes amid twice the purchase pressure in Bitcoin, which opens the possibility of a break below the level of strong support. If this happens, Bitcoin You can see the negative side To 80,000 dollars or even $ 73,000 in the coming weeks.
Related reading
Bitcoin faces decisive support test at $ 93,000
Technical analysis shows that Bitcoin was fluctuating between the upper resistance area at $ 108,000 and a lower support level at $ 93,000. In particular, MmbTRADER encryption analyst noticed This support area It was tested several times, six times to be accurate since the bitcoin price began to trade in this range. These multiple tests are expected to weaken this support area, as buyers can surrender very soon.
Another test occurred on February 18, when Bitcoin recovered at $ 93,900, higher than $ 93,000. However, Bitcoin did not arise after a decisive recovery from this region, and there is still a complete collapse. The analyst in particular indicated that the possibility of a decrease to less than $ 93,000 has increased with the fading of buyers.
A quick break less than $ 93,000 can continue a negative step, and opens a decrease to the next important support level of about 72,000 dollars, although there is a simple support level at 78,900 dollars that can prevent this sharp decline. It is interesting that this landmark is compatible with Previous analyzes This indicated that there is no strong support in the range of $ 12,000 between $ 87,000 and $ 75,000.
Bitcoin at a crossroads: collapse or new levels?
The technical analysis conducted by MMBTRADER sheds light on the current market structure of Bitcoin, which is a The monotheism stage Instead of explicit decline. Although recent developments indicate Signs of Haboodi developments, Bitcoin did not turn into a fully landing mode.
Instead, the current price procedure only indicates a period of frequency, where Both Saudi Arabia Scenarians are possible. Repeated re -tests to support 93,000 dollars can cause a strong collapse, but at the same time, a renewed wave of purchasing momentum may also cause a raising more than $ 100,000.
Related reading
The analyst also noticed the Bitcoin scenario Pick a purchase momentum Catapulting of the support level of $ 93,000. If the support level of $ 93,000 persists, Bitcoin may gain momentum for another crowd towards the highest new level ever. In this scenario, the analyst highlighted a gathering towards a new targeted area at all about $ 113,220.
At the time of this report, Bitcoin is traded at $ 96,470, a decrease of 2 % over the past 24 hours. It also decreased by 11.5 % of its highest level ever at 108,786 dollars.
Distinctive photo of Pixabay, tradingvief chart
