Analyst Says Bitcoin Price At $100,000 Is A ‘Dangerous Zone’, Predicts Massive Crash 💰

Bitcoin recently reached a major milestone by surpassing $100,000 for the first time, which is seen as a significant achievement. However, a TradingView analyst labels this price point as a 'dangerous zone' and predicts a possible correction to $72,000.

The analyst explains that the $100,000 level acts like a 'magnet,' reflecting price attraction and resistance, forecasting a retest at $94,000. Should Bitcoin drop below $94,000, further decreases to $88,000 and potentially to the target zone above $72,200 could occur, signaling a broad market correction.

Despite the cautionary note, the prevailing sentiment is bullish, shown by the market's extreme greed level. Some analysts still see room for growth, projecting potential highs around $140,000. Currently, Bitcoin trades at $98,350, having rebounded from its retest at $94,000.

Though bullish sentiments are dominant, the crypto market remains volatile, and the highlighted risks indicate the possibility of future downturns. However, at the moment, optimism outweighs the bearish outlook.