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Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance Newsbtc 24 Kas 2024

Analyst Sounds Bearish Alarm For Bitcoin As $100,000 Presents Psychological Resistance 💹

Ali Martinez Gert van Lagen Bitcoin

A crypto analyst has issued a bearish warning about Bitcoin’s approach to the $100,000 mark, suggesting this milestone could serve as a psychological resistance, affecting short-term price volatility. As Bitcoin nears this critical price point, the crypto community’s focus intensifies on whether it can break above.

Despite this bearish sentiment, the analyst also predicts a bullish future for Bitcoin, with a potential surge up to $320,000. However, they caution that time to reach such heights may be limited and dependent on avoiding macroeconomic challenges like a global recession.

Another analyst predicts potential massive liquidation if Bitcoin hits $100,000. If Bitcoin’s price jumps to $100,625, $1.89 billion is expected to be liquidated. Their analysis aligns with reports of a large Bitcoin withdrawal from exchanges, indicating mounting pressure on Bitcoin’s price stability.

Furthermore, a sell signal from Bitcoin’s TD Sequential could indicate a significant price correction to $97,085 unless Bitcoin holds above $100,470, which could invalidate the bearish patterns and push the price towards $104,343.

Kaynak: www.newsbtc.com ↗

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