Disclaimer
The content of this article is for informational purposes only and does not constitute financial advice, investment recommendations, or a suggestion to buy or sell assets. Cryptocurrencies and digital assets are highly volatile and may involve significant risks. Always conduct your own research (DYOR) and consult with a professional financial advisor before making investment decisions. The author and the website are not responsible for any loss or damage that may arise from investments based on the information provided.
Previous Bitcoin Price Predictions
In previous articles, we made various Bitcoin price predictions, offering our opinions on what we believed Bitcoin would do in the medium term. In those predictions, we stated that Bitcoin would likely drop below $90,000.
Current Market Insights
What we are seeing now is something different. Currently, we observe that the price is attempting to reach $100,000 again. We do not completely rule out this hypothesis; however, while many are now claiming that Bitcoin is heading to $140,000, we continue to believe in our original thesis that Bitcoin will fall below $90,000.
Why We Believe Bitcoin Will Drop Below $90,000
We hold this hypothesis because many long-term investors had set $101,575 as a key sell target. Does this mean we will definitely see a strong decline? Not necessarily. We may even see Bitcoin attempt to break through $108,000, forming double or even triple tops. However, our view remains that after reaching such levels, it is likely the price will decline again and fall below $90,000.
Historical Patterns and Price Behavior
We have seen similar patterns before. For instance, in March of last year, we observed the price dropping for two weeks, followed by a short rise, and then repeating this pattern until ultimately leaving us with lower highs and lower lows.
Recent Price Movements and Investor Behavior
In other words, what we have seen this week is that after a strong price distribution, other investors took the opportunity to buy, pushing Bitcoin’s price toward $98,000. What we aim to convey when we say Bitcoin will fall below $90,000 is not necessarily a sharp decline (although it is possible), but rather that the price could decline gradually through various ups and downs, leading to price distributions and ultimately a drop below $90,000.
Pullback Possibilities
For now, we are observing lower highs, but this doesn’t mean that buying opportunities cannot emerge, and this week we may see Bitcoin approach our calculated level of $102,682. That said, we would like the reader to remember that, in previous analyses, we mentioned that $101,575 represents a price level of selling pressure, not buying pressure.
Conclusion
In conclusion, our price target remains the same as in previous analyses. Our view is that Bitcoin will fall below $90,000, and second, we see a high probability of a pullback to that zone. However, if the price continues to rise and this pullback doesn’t materialize, there are selling levels that could lead BTC to a new correction phase.
Comments
Post a Comment