Bitcoin: Analyst Predicted $91K Peak Warns Crash Far From Over
Here’s the text rewritten in a more natural and engaging way, while keeping all HTML tags exactly as they were and maintaining the original tone, style, and intent:
Reason to trust
We have a strict editorial policy focused on making sure our news is accurate, relevant, and unbiased.
Our content is created by experts in the industry and thoroughly checked to ensure quality.
We are committed to the highest standards when it comes to reporting and publishing news.
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Este artículo también está disponible en español.
Remember RLinda? This TradingView crypto analyst who called Bitcoin’s previous big drop from $91,000 is back with another bearish prediction for Bitcoin. According to her analysis, things might get a bit rougher for Bitcoin, with a potential fall all the way down to $73,000.
Bitcoin is currently finding it tough to keep up its previous upward pace, as market pressures seem to be leaning bearish. RLinda points out that Bitcoin has entered what she terms a “sell zone.” This comes after it couldn’t maintain its position above the $91,000 buying zone, leading to what’s called a false resistance breakdown. Considering this bearish setup, the analyst is now forecasting a significant crash, anticipating Bitcoin could slide another 11% to around $73,000 in the near future.
Bitcoin Price Expected To Dip To $73,000
RLinda mentioned that the market’s recent volatility is partly due to Donald Trump’s remarks about the Federal Reserve. The market reacted to these comments with a jolt, causing liquidations across the crypto board.
Related Reading: Bitcoin 9-Month Cycle Says It’s Not Over, Analyst Shows Where We Are In The Bull Run
Adding to the market pressure, the crypto summit, which many hoped would inject some bullish energy, didn’t really move the needle on prices. In fact, it seemed to hold back any potential market recovery. This downturn has triggered profit-taking among investors, possibly due to market uncertainty and the influence of larger market players.
Looking at RLinda’s price chart, Bitcoin is currently navigating between $90,000 and $82,000. It landed in this range after a brief price surge in late February. However, Bitcoin couldn’t hold onto those gains and has been trying to bounce back ever since.
RLinda cautions that if Bitcoin falls below the $82,000 support mark, we could see a pretty sharp price drop, potentially down to the $78,000 – $73,000 zone. She specifically points to $73,000 as her major target for a crash, explaining that Bitcoin is currently in a significant correction phase.
With the brakes on global growth for the moment, RLinda also suggests the market is really needing more liquidity. She indicates that if market growth depends too heavily on leveraged positions and new investors without proper pullbacks, it could become shaky. A correction, like the one Bitcoin is currently experiencing, might be necessary to reset liquidity and set the stage for healthier future growth.
BTC Key Resistance And Support Zones
RLinda has also highlighted the important price levels to watch for Bitcoin, giving us some potential areas where the price might reverse direction. According to her analysis, the $73,000 – $66,000 range is where we’re likely to see the most action and liquidity.
Related Reading
While a drop to $66,000 might seem like a big downturn, it could actually be a crucial point for the market to stabilize. Furthermore, we’d likely see further downward momentum if Bitcoin breaks below $82,000. Right now, the resistance levels to keep an eye on are $89,400, $91,000, and $93,000. On the flip side, the key support levels are $82,000, $78,000, and $73,000.
Featured image from Unsplash, chart from Tradingview.com
