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Crypto analyst Pejman has warned that the Bitcoin -price Could be a further crash witness in the short term. He revealed the level that the flagship Crypto must retain to prevent these ‘heavy decreases’.
Bitcoin price can witness a further crash if it falls below this level
In one TradingView -messagePejman stated that the Bitcoin price could register heavy falls if it drops below $ 83,500. This warning came after a bullish analysis in which he noticed that BTC seems to complete the bullish flag pattern. The analyst added that he expects the flagship Crypto to gather to the top while it seems to be filling The CME gorge With the reach of $ 86,000.
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This eventually happened when the Bitcoin price came to $ 88,000, amidst the enormous volatility that took place afterwards Trump’s mutual rates Announcement. Pejman, however, suggested that the rally up to $ 88,000 is probably the local top for BTC, which states that there is a possibility that Bitcoin will fall again after this price increase.
Moreover, the Bitcoin price has since been corrected after the Rally to $ 88,000. This price crash took place when Trump unveiled the adapted rate rates for countries such as China, the European Union, the United Kingdom and Japan. This relocation of the US president is expected to cause a trade war, whereby these countries take revenge on counter-Tariffs, which is BTC and the broader crypto market.
BTC can still fall to as low as $ 78,000
Based on Crypto analyst Kevin Capital’s Analysis can soon fall the Bitcoin price to $ 78,000. The analyst noted that there is a bit of long liquidity at the level of $ 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 noticed that market makers could look at those $ 87,000 to $ 90,000 just before Trump’s rate announcement, which happened as predicted. With the Bitcoin price that the Liquidty sucks up for $ 87,000 to $ 90,000, it probably seems to fall until the range from $ 78,000 to $ 80,000 to also absorb liquidity.
Despite the downward trend of the Bitcoin Price in the past two months, Crypto analyst is still stretching Capital about the flagship Crypto’s route. He noted that BTC experienced a downward trend of 32% from mid -March 2024 to the beginning of September 2024, a withdrawal that lasted almost six months before the price broke New highlights of all time (ATHS). As such, the analyst suggested that this downward trend is nothing to worry about, because BTC could still collect new highlights in a flash.
At the time of writing, the Bitcoin price acts according to around $ 83,000, according to more than 1% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Unsplash, graph of TradingView.com
Credit : www.newsbtc.com
