The head, the shoulder pattern predicts breakdown- here is the target
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Tony Severino, a prominent encryption analyst, Share New Bitcoin price expectationsThis indicates that the crystal currency is about to Another major correction. The analyst suggested that forming a lower time frame (LTF) and the shoulder pattern on the bitcoin price scheme is a possible confirmation of collapse to $ 80,000.
Bitcoin price is expected to collapse to 83,600 dollars
The last recession in the market is robbed The value of bitcoin was affectedWhich leads to predictions less than that of senior analysts. Severino to publish On X (formerly Twitter) on March 6, Bitcoin can soon experience another major retreat to its lowest level.
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Expect the analyst that Bitcoin can crash To 84,800 dollars – 83,600 dollars. These landfill forecasts are supported by the last configuration of the LTF head and shoulder style on the Bitcoin chart.
A Head and shoulder style It is the formation of technical analysis usually indicates capabilities A reflection of ascending to the dilemma. It appears to be three peaks on the price scheme, with the top of the middle, which is the head, which is higher than others (shoulders). It is worth noting that the head and shoulder style is one of the most well -known patterns to drop the declining trend in a encrypted currency.
In the case of Bitcoin, the Severino A Plan explains Similar triangle With an ABCDE internal structure. Black Qatari lines in the chart are a similar triangle, indicating a decrease in its highest level and its highest level. Inside the triangle, the red lines make the waves, indicating that the price of bitcoin may be Side cut But with the bias towards completing the triangle.
Due to the formation of the head and shoulder style, Bitcoin can see its price collapses to the lower border of the triangle around the mid -$ 80,000. The collapse of the price will complete the Wave D and possibly test the following critical support area.
Once Bitcoin drops to this level, Severino expects it to be possible Return to its highest new levels. The graph shows that bitcoin can gather towards the wa wave in the triangle, which is placed around the price level of $ 90,000.
Moreover, the bitcoin plan indicates the analyst to another Deeper withdrawal After this price recovered to $ 90,000. Towards the right side of the scheme, the arrow indicates below, indicating that after the end of the end of the end, Bitcoin can decrease about 83,600 dollars to 80,200 dollars.
Analyst warns of the trap of the bear before the final bull runs
While many in the encryption market describes this huge decrease in bitcoin price The beginning of the bear marketOthers believe that this price collapse can be just a bear trap. Market expert known as “Crypto Caesar” Propagate Bitcoin will be about to final Bear trap Before entering the last stage of this bull cycle.
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This means that Bitcoin is likely to face another sharp decrease, and the weak hands are shaken before height to the highest new level ever. The analyst’s scheme predicts that it can exceed $ 110,000, indicating the end of the bull market.
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