The Bitcoin$BTC bull rally has paused, so the question arises whether BTC will fall to $90,000 during the current correction.
On November 22, the BTC price rose to a new all-time high of $99,801, but the asset’s value did not reach $100,000 and began to decline. An analyst under the pseudonym Material Indicators explained the emergence of a downward trend by the fact that a powerful resistance barrier has formed in the range from $99,300 to $100,000. To overcome it, traders will have to buy almost $300 million worth of bitcoins.
Another analyst under the nickname Crypto Chase suggested that the BTC rate could fall to $88,736. In his opinion, the lower boundary of the high demand zone for cryptocurrency passes along this level, which is unlikely to be broken by bears.
This [a drop in the price of bitcoin to $88,736] is the best scenario for the subsequent breakthrough of $100,000. I understand that many will answer me: “And without a correction, everything will be fine.” But the point is that the fewer healthy corrections are observed, the higher the probability of a full-fledged dump in the future. Only up always ends only down, - wrote Crypto Chase.
