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Crypto analyst Melika Trader has warned a bearish pattern that could form for the Bitcoin -price. Based on this, the analyst predicts that the largest crypto per market capitalization could crash up to $ 78,000.
Bitcoin – Price -forming head and shoulder pattern
In one TradingView -messageMelika Trader revealed that the Bitcoin price is a complex main and shoulders pattern. He noted that the left shoulder and the double head had already formed while the right shoulder is currently forming, with BTC that runs a huge crash as soon as this happens.
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As part of the expected movement, Melika Trader suggested that the Bitcoin price could show a possible fake outbreak over the resistance between $ 87,000 and $ 88,000. As soon as that happens, the analyst predicts that a sharp fall will follow, where BTC drops to as low as $ 78,000, which is the first support area.
The Bitcoin price has risen beyond $ 90,000 on the back of the US dollar that falls to new lows and is still reaching new highlights, leading to optimism that It could win $ 100,000 back soon. There is the possibility that BTC could still collect up to $ 98,000 before some massive correction.
Crypto analyst Ali Martinez It revealed that data on the chains show that the next key area of resistance for the Bitcoin price is between $ 95,600 and $ 98,290. That range acts as an important food wall, because 1.65 million addresses have purchased 1.09 million BTC around that area. The next step from Bitcoin will depend on whether these holders choose to hold or load their coins as soon as it regains this range.
However, it is worth noting that crypto -walfissen actively collect BTC, which is Bullish for the Bitcoin price. Martinez revealed that more than 17,000 BTC have been withdrawn from fairs last week.
BTC Eying Rally to a new all time of all time
Crypto analyst Titan van Crypto has predicted that the Bitcoin price could quickly collect up to $ 137,000, which marks a new all-time High (ATH) for the leading crypto. He stated that BTC was finally broken from a bull’s eyelash, with two strong consecutive daily bullish candles, which confirm this movement. The analyst added that the projected goal is $ 137,000 if this bull’s eyelash is confirmed.
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Crypto analyst Egrag Crypto stated that a daily near $ 93,000 will send a strong bullish signal, while the possibility is increased to collect BTC above $ 100,000. He claimed that every fear of retracement will be eliminated if the leading crypto closes above $ 103,000.
At the time of writing, the Bitcoin price is traded by around $ 93,000, an increase of more than 5% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Adobe Stock, Chart van TradingView.com
