Would Bitcoin going to 65K dollars? Merchants explain why they are still a group

Bitcoin (Btc) Almost as much as 14% after covering at four months low near 76,600 March. But BTC price is nearly 25% of its record high of about $ 110,000, which is normal for “Bull market correction. “

However, some analysts predict that the price of bitcoin will continue to continue in the future.

“Dark Cloud” Hints Bitcoin is overflowing

Bitcoin faces renewed bear pressure after rejection to $ 87,470, resistance to a channel channel, with a “dark cloud” sample of reinforcement trend, in accordance with analysis divided from GDKtrader on X.

The pattern of a dark cloud that occurs when a strong green candle is red candle that opens above previous, but it closes below the middle of the first body of the first candle.

Such a shift in the village indicates that customers tried to push higher, but the sellers overwhelm them, they often lead them to further act.

Bitcoin failure to close inside the resistance zone to 93,000 dollars, specifically, GDKstrader said that cryptocurrency will remain under bear pressure if not decisively broken above the mentioned range.

BTC Price “Perfect Rejection” risks $ 65,000

Bitcoin potential to decrease further from their “perfect rejection” after testing a zone of 86,000-88,000 dollars as resilience, according to analysis From the popular Cript Cripto merchant.

Related: Here’s why Bitcoin price cannot exceed $ 87.5

It is known that Bitcoin tried to break according to the local supply zone marked in red, but failed to endure above the mentioned resistance zone, illustrated the orange circle on the chart.

Disobey supply zones increased the probability of falling towards lower levels of support for about 77,000-79,000 dollars (marked green) by March. The testing of this area as support has led to a sharp jump in March.

Regardless, if this support zone breaks, a deeper move below the 77,000-79,000-dollar region could be extended in an area of ​​65,000-74,000 – larger green liquidity zones in the chart above-to-April.

George analyst divided Similar Outlook, as shown below.

“It’s hard to stay bullish” with a role model

According to an analyst CryptopusBitcoin remains well correlated with traditional capital markets, especially S & P 500 (SPX) and Nasband 100 (NDCS), which both show bear patterns in graphs.

The flag bear is formed when the price consolidates higher inside the ascending parallel channel. It decides if the price breaks below the lower trendline and falls for as much as the height of the previous trend.

The BTC follows a similar bear structure, with $ 84,000 acts as lower support in trend. The break below this threshold could start a deeper sale of $ 72,000 per the above technical rule above.

Moreover, in the correlation of bitcoin with capital it has increased due to a broader decline in the sense of feeling, led by US President Donald Trump Global Trading War.

Arthur Breitman, co-founder of the Tesos, called us a recession of one of the The largest external risks of Cripto Market.

This article does not contain investment advice or recommendations. Any investment and trade of trading involves risk, and readers should conduct their own research when making a decision.