Bitcoin price is stuck below $ 100,000, while analysts draw attention to significant risks in the short term. Technical indicators point to a possible wave of sales in the crypto currency market. Experts say that if Bitcoin loses critical support of $ 95,800, it may decline to $ 90,000.
Why is the $ 95,800 level important?
According to Analyst R. Linda, Bitcoin’s fall below $ 95,800 will mean an important break. The loss of this level can withdraw the price first to $ 91,300 and then to $ 90,000. Bitcoin, $ 99,800 times, even though he tried to hold above this level has not been able to hold on.
However, a temporary recovery may be possible if the price can hold at $ 95,800. This recovery can move Bitcoin to $ 100,200 again. However, whether this movement is permanent will depend on market conditions.
Can he hold over $ 96,000?
On the other hand, according to the assessment of Analyst Captain Faibik, Bitcoin’s daily graph points to an expanding wedge formation. This formation shows that if the price remains over $ 96,000, it can be reached to new peaks. Faibik says that if this level is preserved, Bitcoin has the potential to reach $ 120,000 at the end of February.
On the other hand, analysts like Ali Martinez draw attention to Bitcoin’s MVRV Extreme Deviation Pricing Bands data. These data indicate that Bitcoin’s rise potential will continue as long as it remains above $ 92,800. Otherwise, sales pressure on the market may increase and new bottom levels may be seen.
Critical Days in Bitcoin Price
Now the price of Bitcoin was traded for $ 97,476. Bitcoin, which made a modest earnings of 0.7 %in the last 24 hours, lost 2 %on a weekly basis. Market experts say that these levels are the points to be followed carefully for investors. Bitcoin’s future movement will largely depend on 95,800 and $ 96,000.
If the price cannot be held at these levels, support of $ 90,000 may become critical. However, if the recovery occurs, it seems possible to return to $ 100,000. We will follow together how BTC will follow price movements in the coming period.
