Bitcoin’s $90,000 Level Holds Key To Preventing A New Bear Market, Top Analys...
Bitcoin (BTC) continues to navigate a phase of consolidation, hovering just above $113,000, leaving investors uncertain about the BTC’s next move. This uncertainty has led one analyst, known for accurately predicting BTC’s trajectory during this cycle, to suggest that a new bear market may be closer than many investors anticipate. Bear Market Warning In a recent post on social media platform X (formerly Twitter), the analyst, who goes by the name Doctor Profit, expressed ongoing confidence in his bearish outlook. Since adopting a negative stance in August, he has maintained that....
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BTC price dropped below $56,000 again, leading analysts to discuss various bull and bear scenarios for Bitcoin’s short term price action. Cooler heads are calling for a collective deep breath and a step back to see the long-term outlook for the future of Bitcoin (BTC) price and the wider crypto market, but today's drop back under $56,000 is raising eyebrows among traders.Data from Cointelegraph Markets Pro and TradingView shows that after starting the week near $60,000, several days of bears hammering the price of Bitcoin resulted in a revisit to $55,600.BTC/USDT 1-day chart. Source:....
Since January 31, Bitcoin (BTC) has experienced a significant correction, with the leading cryptocurrency plummeting as much as 27.52%. Currently valued around $79,000, Bitcoin’s price is precariously balanced above a crucial support level dubbed as “the magic line,” which is set at $74,000, pivotal in determining the market’s trajectory—bullish or bearish. A Historical Buffer Against Bear Markets In a recent social media post on X (formerly Twitter), market expert Doctor Profit emphasized that “the magic line” placed at $74,000 in his analysis is not just a number....
Bitcoin is still struggling to get back above $60,000, and is sinking lower with each passing day. Another defense at $50,000 might be near, and if bulls cannot support the key level another time, a bear market could follow. According to the momentum of past market cycles, the next bear phase could be a walk […]
While this isn’t bitcoin’s first bear market, it is the most opportunity-ripe “winter” yet experienced by the industry.
The current short-term upward trend can actually be a correction within a downward trend. Will the upward dynamics continue? Bitcoin’s price is at a critical level. Bitcoin’s price has stopped at a key medium-term level, where the following direction will be decided. This level is the place where the largest downward trading volume has accumulated. The market is still undergoing a short-term upward trend, but there is always a chance of a turnabout. The most probable point for a turn is the level with the largest volume - $417.5. If the price holds at that level and forms a turn to....