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The Bitcoin price stood for a rejection after its rise to $ 97,000 last week. Technical expert Tony Severino has commented on this development and refers to the LMACD indicator, who has revealed what the next one is for the flagship Crypto.
What is the next step for the Bitcoin price after rejection at $ 97,000
In an X -Post, Tony Severino stated that multiple BTC -time frame -analyzes using the LMACD -indicator Imagine that the Bitcoin price is in a precarious position. He noted that if the daily momentum crosses Beerarish, it could prevent the weekly bullish crossover and the weekly LMACD could pull below zero. This would cross the monthly LMACD -Rugberepen.
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With various important timetables in synchronization, Severino warned that market participants could see a more aggressive step for the Bitcoin price. On the other hand, the technical expert noted that the daily LMACD upwards could cross the weekly bullish and avoid someone else Monthly crossoverWhat Bullish can be.
However, he suggested that a Bitcoin price decrease is currently more likely, because the monthly LMACD is the most dominant of the three signals, which seems to indicate a falling trend. He added that this indicator also has the power to pull the other timetables with it. Severino could not mention how low BTC could fall on this projected price decline.
In the meantime, Crypto analyst Ali Martinez Also warned of a potential decrease in the bitcoin prize. In an X post he stated that BTC could quickly withdraw because the TD -sequential indicator is flashing a sales signal. The analyst warned that if Bitcoin loses the support level of $ 94,765, this could fall to $ 90,000 or even $ 86,000.
How history could repeat itself for BTC
Crypto analyst Stretching capital Increased the possibility that the Bitcoin price repeated a similar step from last year. For the history to repeat himself, he noted that BTC should reject $ 99,000, above $ 93,500, the range of $ 97,000 to $ 99,000 would break, rejected from $ 104,500, the $ 97,000 to $ 99,000 and then breaking out of all time (aths).
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Comments on the current price promotion, Crypto analyst Titan van Crypto noted that the Bitcoin price is withdrawing to an important support for the confluence. He added that a strong reaction from this current zone would confirm that the upward trend remains intact. His corresponding graph showed that the price level of $ 95,423 is the area to look at. If this level is not recovered quickly enough, it can start a downward trend for the flagship Crypto.
At the time of writing, the Bitcoin price acts according to around $ 94,700, according to the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Unsplash, graph of TradingView.com