The Bitcoin Prize is still about $ 100,000 and remains quite close to its high levels of $ 111 900. However, this has not done anything to deter Bearish sentiment that continues to ravage the crypto market. Altcoins have been most affected in particular, with seemingly no end in view of the decline. Given the current marketing entry, a crypto analyst has given the reason behind Bitcoin Price Bearishness, even though it is still over $ 100,000.
Why the Bitcoin Price is still Baisseartat
In one analysisCrypto -analyst Anup Ziddi pointed out the reason that Bitcoin -Price can continue to see BaisseTed tendencies From here. The first is the fact that the leading Cryptocurrency through market cases continues to trade below an important level, which is at $ 107,000.
So far, $ 107,000 has become an important level, after serving as resistance in Bitcoin’s latest bid for new All-Highs. After the price decline, it has again turned into resistance, and the bulls have not been able to clear this level to resume this upwards. Given this, $ 107,000 has now become the level of switching the price will continue upwards.
According to the crypto analyst, the Bitcoin price is still quite Baisseart as long as it stays below this level. The longer it acts below $ 107,000, the higher the opportunities for further crash from here. The first goal is the $ 103,500 level, which has already been tested earlier this week. Then, after that, swim $ 102,500 in sight, with $ 100,000 sitting as the final target Before greater support is reached.
In addition to the Bitcoin Price Trade below such an important psychological level, crypto analysts also point to impaired geopolitical situations as a catalyst for a decline. This has seen when the Bitcoin Prize has dropped after Donald Trump’s renewed customs war and sent the financial markets in concern.
Press BTC further down
Another analyst also has exclaimed Bearishness around the Bitcoin Prize and expects access to dip much longer. Analysts point out things like liquidity sweeps, gaps at fair value and market structure such as the reasons behind the market.
Analysts explained that the increase over all the time was not a real breakout and called it a stop hunt. In addition Gap gap Sits at $ 105,600 and $ 106,000, and as the Bitcoin price has not been able to recover this level, it increases the probability of further return.
Last but not least is the division that brought the bitcoin price against $ 104,300As the analyst considers, the first sign of Baissey continuation is. “If the price acts back to that imbalance and shows rejection, I expect the continuation lower, with goals to $ 104,300 and ultimately down to $ 103,600,” the analyst said.
Featured image from dall.e, chart from tradingview.com
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