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Rlinda, a TradingView Crypto analyst who predicted the earlier crash of Bitcoin from $ 91,000, has another shared Beerarish forecast For the pioneer cryptocurrency. According to the analyst, there can be more horizon pain for Bitcoin, because it is expected to fall as low as $ 73,000.
Bitcoin is currently struggle to keep his first momentum While bearish factors dominate the market. According to Rlinda, the cryptocurrency has entered A sales zone after not holding above the purchase zone above $ 91,000, which initiates a false resistance state. Given the current Bearish position, the analyst predicts a big crash New low points for Bitcoin, anticipatory a decrease from 11% to $ 73,000 soon.
Bitcoin -price set at $ 73,000
Rlinda revealed that the The volatility of the market was partially attributed to Donald Trump’s comments about the Federal Reserve. The market responded to the US President’s statements with a global stir, causing liquidations about the crypto room.
Related Reading: Bitcoin 9-month cycle says that it is not over yet, analysts show where we are in the Bull Run
Moreover, the crypto -topOf which was expected to repair the bullish sentiment, little did not increase the prices. Instead, it prevented the market from becoming green. This market decline has led Make a profit by investors Due to the lack of market and manipulation by major players.
Based on the analyst’s price diagram, Bitcoin acts within the range of $ 90,000 – $ 82,000. The cryptocurrency fell to this price after he light price pump At the end of February. After this increase, Bitcoin lost all his winnings and has been since then strive for a recovery.
Rlinda warns that if Bitcoin breaks under the support level of $ 82,000, it can experience one Substantial price To $ 78,000 – $ 73,000. The TradingView analyst has emphasized $ 73,000 as the primary crash goal, with reference to that Bitcoin is currently in a deep correction phase.
With global growth, temporarily suspended, Rlinda revealed that the market is located There for liquidity needs. The analyst indicated that if the growth of the market is too much dependent on bullish leverage and new buyers without the right correction, it can become unstable. A correction phase, as Bitcoin is currently experiencing, can make liquidity possible to reset the market and prepare for future upward movements.
BTC Key Resistance and Support Zones
Rlinda has established Main resistance and support levels For the Bitcoin price, sharing insights into potential reversal points. The TradingView analyst claims that the price zone with the most interest and liquidity is $ 73,000 – $ 66,000.
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Although a breakdown of up to $ 66,000 may seem like a steep decline, it could serve as a criticism for market stabilization. In addition, Bearish movements Would be confirmed if Bitcoin drops below $ 82,000. Currently, the resistance levels to view are $ 89,400, $ 91,000 and $ 93,000. Conversely, the support areas to take $ 82,000, $ 78,000 and $ 73,000 are.
Featured image of Unsplash, graph of TradingView.com