The analyst says the price may decrease to 88 thousand dollars after that

Bitcoin continues to trade within a side range, with the fluctuation of its price between the main support levels and resistance levels. The cryptocurrency has not been depleted in either direction, leaving investors in a state of suspense about its next big step. The current pattern indicates that Bitcoin is still working through the standardization stage. At the time of this report, Bitcoin is traded without a $ 98,000 mark and the currency fell by more than seven percent last week.

Resistance and support levels to watch

Bitcoin is currently moving from the support level near the lower border of the side scale towards the resistance. The instant resistance area lies Between 97521 dollars and 98,430 dollars. If the price is paid through this range, it may indicate a potential upward shift. However, failure to break this resistance may suggest more negative aspect in the short term.

Short or upscale decline?

Currently, the short -term trend tends to drop a little, as Bitcoin moves through a corrective wave. If the price fails to maintain subsidies at 93,633 dollars, there may be more negative side, and it may target the mid -range to a decrease of $ 80,000. On the other hand, a strong collapse over the resistance can indicate a more important upward movement.

While the current focus on the short -term procedure, it is important to remember that the largest pattern is still optimistic. The ongoing corrective structure can be part of a more comprehensive upward movement that can bring Bitcoin back to higher levels.

The famous analyst Kabo wrote, “Do not be afraid if we see another 5 % -10 % decrease to form the lowest level. Only a contract/purchase. This really seems to be a local formation.” However, later he predicted another and said: ” Perhaps 88 thousand dollars-90 thousand dollars for BTC. “