Bitcoin has went into a precarious situation After falling under $ 114,000, and sellers continue to put pressure on it. This comes after a rise of new all-time highlights and sticking to earlier trends, Bitcoin seems to test earlier support levels before he continues on his journey. As the price continues to struggle, crypto analyst Xanrox has predicted that there will be a crash in the future and investors warns you to invest in BTC.
Bitcoin shows signs of crash
In the analysis, Xanrox noted That the Bitcoin price is already ready to crash in the short term. This is due to the appearance of a real value gap (FVG) that still has to be filled, and the Price is already pulling back To this level to refill it again.
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The first crash is expected to send Bitcoin to the level of $ 110,600, which is an earlier peak. At this intersection there is a lot of support and the Bitcoin price will probably resist the crash here before it continues. The Crypto analyst also explained that the strong support is due to the fact that the level of $ 110,600 has never been tested before.
There is also the 100-day advancing average that stands around this level, and also this, Offers support for the price. In view of this, the Crypto analyst believes that this would be good support for investors looking for Intraday transactions, since the price reaches $ 110,600.
In the future, Xanrox expects the price to break under $ 110,600, and the next large level is at $ 104,800. This is also a strong level of support because there is a range and a bull flag here. The most important thing of all is that the real value gap at this level is to be filled in. “The previous big swing low of 105.130 is something that people place a lot of stop losses underneath,” said the analyst. “That is a magnet for whales; they probably want to buy here.”
Why the price goes under $ 60,000
In the light of the current Bearish -Trend, Xanrox predicts that the Bitcoin price will ultimately crash under $ 60,000. This is the result of the completion of the five waves of the Elliot golf theory, which suggests that the market is now going in the Bearish part.
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The analysis also points to the Break under the trendline That started in April, marked in red. This trendline has held because the price has risen, since then not in five months. That is why the current break suggests a continuation of the Bearish Rally. Regarding when the Bitcoin price will fall below $ 60,000, the analyst predicts that this will happen in 2026.
Featured image of dall.e, graph of tradingview.com