Bitcoin continues to attract the attention of investors with its recent price movements. The popular crypto analyst Cheds draws attention to a critical level for the price of Bitcoin: $ 90,000. According to Cheds, if Bitcoin falls below this level, there may be a big decline. The analyst emphasizes that Bitcoin’s current horizontal course and strong resistance level, with $ 107,000, constitutes a significant support level of $ 90,000. The loss of this level can lead to a decline of BTC to $ 70,000. This critical level for Bitcoin’s future is of great importance for investors and market experts.
Critical analysis for Bitcoin price
The popular crypto analyst Cheds predicts that Bitcoin (BTC) may experience a significant decline if it falls below $ 90,000. 49,600 The analyst addressing the Youtube subscriber, Bitcoin is currently following a horizontal trend and 107,000 dollars with a strong resistance with a critical support level of $ 90,000, he says. According to Cheds, it is of great importance that bulls protect this level. Because if it is below $ 90,000, it may be inevitable that the BTC will enter a decline trend. Analyst says that if this support is lost, Bitcoin may decline to $ 70,000. Analyst uses the following statements:
If Bitcoin falls below $ 90,000, I think the $ 78,000 will not be able to hold. When 90,000 is lost, we will probably fall to $ 74,000 or even $ 72,000. It is not possible to find support at $ 85,000 or 78,000. The importance of $ 90,000 cannot be underestimated. According to the classic graphic analysis, many contacts took place at this level. Considering the time interval and price fluctuations, the loss of this level is a strong momentum blow. There may be no hesitation between $ 72,000-74,000.
How is Bitcoin?
Bitcoin did not change greatly on Monday after a harsh decline at the weekend. US President Donald Trump’s cautiously being cautious before investors and investors’ critical inflation data negatively affected the risk appetite. It was traded for $ 97.114.6 with an increase of 0.1 %. Last week, Bitcoin depreciated over 4 %due to the increase in US-China trade tensions and liquidity concerns kept investors away from speculative assets.
The high inflation in the United States and the interest rates that would remain high for a long time have also suppressed crypto currencies and greatly balanced optimism with Trump’s more friendly arrangements. Although crypto money defenders suggest Bitcoin as a means of protection against traditional market volatility, Bitcoin often failed to maintain its value during periods of increase in market challenges. On the other hand, gold reached a series of record summits last week. After Trump’s tariffs, the dollar also strengthened, because investors estimate that tariffs would increase US inflation and keep interest rates higher.
