The encryption analyst warns that the price of bitcoin may see more collapse if it is less than this level
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PEJMAN encryption analyst warned that Bitcoin price Another short -term accident can be witnessed. He revealed the level that the main encryption needs to overcome these “heavy declines”.
Bitcoin may see more collapse if it is less than this level
in Tradingvief PostBegman stated that the price of bitcoin could record heavy declines if it is less than 83,500 dollars. This warning came after a bullish analysis, as he noticed that BTC seems to be complementing the loud science style. The analyst added that the main encryption is expected to gather to the upward trend because it looks forward to filling CME gap In a range of $ 86,000.
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This happened in the end with the high price of bitcoin to 88,000 dollars amid the huge fluctuations that occurred after that Trump’s mutual tariff advertisement. However, Pejman suggested that the gathering to $ 88,000 is probably the local summit of BTC, noting that there is a possibility that Bitcoin will decrease again after increasing this price.
Moreover, the Bitcoin price was then corrected yet Rapid to 88,000 dollars. This price collapsed as Trump revealed the tariff rates allocated to countries such as China, the European Union, the United Kingdom and Japan. This step from the US President is expected to lead to a commercial war, with these countries’ revenge for anti -models, which are a declining BTC and the broader encryption market.
BTC can still decrease to $ 78,000
Based on the encryption analyst Kevin Capital Analysis, Bitcoin price can soon decrease to $ 78,000. The analyst noted that there is little long liquidity at a level between 78,000 to 80,000 dollars, but there is also a lot of liquidity in the range of $ 87,000 to $ 90,000.
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He also pointed out that market makers could look forward to dealing with $ 87,000 to $ 90,000 before the Trump tariff was announced, which happened as expected. With the absorption of the Bitcoin price for the ranking at 87,000 dollars to 90,000 dollars, it seems likely to decrease to a range of 78,000 to $ 80,000 to absorb liquidity in this range.
Although Bitcoin Price’s downward trend over the past two months, the Rikt Capital encryption analyst is still upward in the main encryption track. He pointed out that BTC witnessed a 32 % lower direction from mid -March 2024 to early September 2024, a decline nearly six months ago New levels at all (ATHS). As such, the analyst suggested that this declining trend is not concerned because BTC still can gather to new flash levels.
At the time of this report, Bitcoin price is traded by about 83,000 dollars, a decrease of more than 1 % in the past 24 hours, according to what it said. Data From Coinmarketcap.
Distinctive image from Unsplash, Chart from TradingView.com
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