$BTC wild ride continues! 🚀 After briefly crossing the $100,000 mark last week, BTC has dropped over 8.5% in just four days. Now, all eyes are on the critical $90,000 level—but the question remains:
Is this just a cool-off or the start of something bigger? 🤔
🚩 The $90K Zone: Support or Slippery Slope?
Market analysts are zoomed in on the $90,000 level, calling it a key support zone for Bitcoin. 💡
AlphaBTC, a popular trader, recently pointed out:
“Bitcoin fell through the $97-95K support zone yesterday, all the way to the range lows. The big question now is if it’s done or heading for the $90K lows.”
If BTC bounces from $90K, we might see some relief. But if $90K breaks down, analysts are warning of deeper dips to $88,600 or even $87,500.
📊 Leverage is Unwinding
Crypto analyst Emperor says the ongoing sell-off is “slowly removing leverage” from the market—a natural (and painful) part of crypto cycles. 🤯 According to Emperor, $90K could trigger a “solid bounce” if the price holds.
But what if it doesn’t? Other experts like Michael van de Poppe and Julio Moreno are setting their sights even lower:
• Michael van de Poppe: “BTC might dip between $90K-$92K, but a retest of $85,300 is on the table.”
• Julio Moreno: “Bitcoin’s realized price—a key support during bull markets—is at $88K.”
🔎 Is $73K the Real Target?
Here’s where things get really interesting—and bearish. 🐻 Veteran trader Peter Brandt has identified a Head & Shoulders (H&S) pattern on Bitcoin’s daily chart. If this pattern plays out, BTC’s price could drop to $73,000.
Other traders are calling for similar levels:
• Micro2Macr0: Targets $84,885 and $72,962 as Bitcoin’s next stop if $90K doesn’t hold.
• Aksel Kibar: Believes $73,700—BTC’s previous all-time high—could act as the last line of defense.
💡 Why This Pullback Might Be Healthy
Not all hope is lost! 🙌 Onchain data shows that traders’ unrealized profits are shrinking—a sign that the market is cooling off after its explosive rally above $100K.
“This is healthy,” says CryptoQuant’s Julio Moreno. “Corrections like this help stabilize the market.”
🔥 The Bottom Line
Right now, $90K is the battleground for Bitcoin. A strong bounce here could reignite the bulls, but if it fails, prepare for deeper drops—possibly to $73,000 or lower.
Your Move:
• Watch for price action around $90K.
• Stay updated on onchain data and leverage metrics
• Be ready for volatility. 🌪️
This isn’t just trading—it’s survival in the crypto jungle! 🌴🦁
Where do you think Bitcoin is heading next? Share your thoughts below! 👇
