After losing the support of USD 100,000, BTC is expected to resume its upward path in the coming days.
At this moment when bitcoin (BTC) is experiencing days of high volatility, community members express their confidence that the bullish rally will continue and see the situation as 'a buying opportunity'.
With the loss of support at USD 100,000 that the digital currency had reached days ago, most comments on social media indicate that these drops are usually 'normal' in bullish seasons.
'In a bullish market, the price tends to retrace to these levels to continue rising,' states the user identified as @drakulyadmt. It considers that the equilibrium point of the current range is close to 97,000 dollars.
This idea is supported by @xavigamz, for whom in the short term the outlook is bearish, but 'in the long run, we remain bullish.'
@Aurea_Cripto, for its part, thinks that the retracement could be around USD 92,000 to USD 95,000, which it sees as a buying zone. It believes that the price to protect is USD 90,500, a value it indicates as support.
Like other commentators, the expectation of bitcoiners is bullish. Hence, the range of 91,000 dollars is maintained as an important indicator, considering that as long as it does not fall below this range 'the bullish scenario remains in effect'.
It is also noteworthy that the decline has represented a significant liquidation in the market. In this sense, many remember that the drop is accompanied by a collapse of entries for bitcoin ETFs in the U.S.
As reported by CriptoNoticias, the flow of money decreased on January 7. And although they closed the day with a positive daily balance, the capital outflows together reached 540 million dollars. This is a negative performance that directly affected the bitcoin quotation.
Despite this, the stance of most analysts suggests that the bullish market is far from over. This is indicated by the firm Grayscale in a report, in which it claims that 'the current combination of indicators is consistent with an intermediate stage of the market cycle.'
It is the same position held by analyst Juan Rodríguez, who recalls that the months of January and September are usually corrective stages.
