Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here

After hitting a new all-time high last month, the Bitcoin price has since retraced by more than 10%, crashing below $110,000 once ￰0￱ bearish pressure has continued into the new month, with sell-offs being the order of the day, especially as investors move to secure their ￰1￱ calls for a possible bottom, a crypto analyst has suggested that the Bitcoin crash is far from ￰2￱ fact, going by the analysis, the decline may just be starting as Bitcoin is expected to tumble ￰3￱ A Crash To $93,000 Is Imminent In the analysis, crypto analyst MMBTtrader acknowledges the fact that the Bitcoin price is already under immense ￰4￱ is shown by the fact that the cryptocurrency has been rejected from $120,000 and has now fallen back to the next major support ￰5￱ Reading: Cardano Price To Rise 300% To $4?

Analyst Reveals When So far, the $108,000 level has acted as a support, preventing further decline. However, with sellers still being in charge of the market, it is possible that this level does not hold for ￰6￱ at the broader picture, the crypto analyst calls for further price decline, and this could trigger a cascading ￰7￱ the analyst explains, this is happening because the market needs some ￰8￱ is also the trendline that began back in 2024, shown by the line in green, suggesting where the Bitcoin price could fall next. A retest of this trendline suggests that Bitcoin could dump back to $93,000, where the trendline makes its next contact. Naturally, the next retest of the trendline in this case would mean that it is hitting ￰9￱ there is also the fact that momentum doesn’t point to a possible Bitcoin price ￰10￱ after hitting $93,000, the analyst expects a further breakdown and a move to as low as $70,000.

Why Bitcoin Price Could Still Jump In the case of bulls being able to maintain support and triggering a bounce, the crypto analyst shows there is still a possibility of a price jump. Here, the price would have to reclaim the trendline above $117,000 to complete the upward ￰11￱ Reading: Analyst Says XRP Price Is Yet To Hit Its First Bearish Target – Details A price jump from this support level could end in another 30% price increase, pushing the price above the $137,000 level. However, the analyst remains adamant that there is more possibility of a breakdown. “I am thinking of breakout to the downside and more dump after that like red arrows maybe now with higher possibility,” MMBTtrader ￰12￱ image from Dall.

E, chart from ￰13￱