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Crypto analyst X Force has the attention of the Crypto community based on an important Fractal from 2023, which paints a bullish image for the Bitcoin price. However, the analyst suggested that A Descend to $ 90,000 Can still be on the cards for BTC, although that does not invalidate the macro setup.
Key Fractal shows that the Bitcoin price is still bullish
In one XX Force emphasized an important fractal from the early phase of the Bull market of 2023 and noted why it supports the opinion The current trend Bullish remains. He noted that the price structure that was then observed could offer insights that were relevant to current analysis, because history often rhymes, although it may not repeat itself exactly.
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X Force then noted that in 2023, a larger degree golf 1 ended, followed by a shallow Golf 2 that only withdrew to the 23.6% to 38.2% Fibonacci -Effairs. The analyst then stated that this interpretation was not only afterwards, but it was the only valid count, even in real time. He also increased the possibility that the Bitcoin price created another layer.
X Force explained that the context of the micro -time frames is falling because every bouncer and dump is extremely sensitive to the overall creation of the wave structure. In the meantime, the analyst indicated that The Bitcoin price Can still fall to as low as $ 90,000, but noted that it is important that BTC remains above this critical level of support.
In an X-post, the crypto analyst stated that, as long as the Bitcoin price remains above the level of $ 90,000, the implications of the shorter price action have no impact on the total macro trend. X Force added that pullbacks and chopiness are not only healthy, but also of vital importance Every bullmarkt.
A BTC -Prijscrash on your hands?
Lace -up dealer Peter Brandt has increased the possibility that a Bitcoin -Prijscrash will take place soon. In one XHe wondered if November 2021 took place all over again for the flagship Crypto. His corresponding graph showed how that period was the Cycluspiek for BTC, after a double top formation.
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The Bitcoin prize then crashed from his all-time High (ATH) of around $ 69,000 and consolidated more than two years before he witnessed New High High from $ 111,900. If so, this can mark the end of the bull run of the cycle, with a crash set to follow. However, the graph suggested that BTC could support this bullrun if it could be more than $ 104,612.
At the time of writing, the Bitcoin price acts according to around $ 106,700, in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Pixabay, graph of TradingView.com