$BTC wild ride continues! đ 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 levelâbut the question remains:
Is this just a cool-off or the start of something bigger? đ¤
đŠ 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. đĄ
AlphaBTC, a popular trader, recently pointed out:
âBitcoin fell through the $97-95K support zone yesterday, all the way to the range lows. The big question now is if itâs done or heading for the $90K lows.â
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.
đ Leverage is Unwinding
Crypto analyst Emperor says the ongoing sell-off is âslowly removing leverageâ from the marketâa natural (and painful) part of crypto cycles. 𤯠According to Emperor, $90K could trigger a âsolid bounceâ if the price holds.
But what if it doesnât? Other experts like Michael van de Poppe and Julio Moreno are setting their sights even lower:
⢠Michael van de Poppe: âBTC might dip between $90K-$92K, but a retest of $85,300 is on the table.â
⢠Julio Moreno: âBitcoinâs realized priceâa key support during bull marketsâis at $88K.â
đ Is $73K the Real Target?
Hereâs where things get really interestingâand bearish. đť Veteran trader Peter Brandt has identified a Head & Shoulders (H&S) pattern on Bitcoinâs daily chart. If this pattern plays out, BTCâs price could drop to $73,000.
Other traders are calling for similar levels:
⢠Micro2Macr0: Targets $84,885 and $72,962 as Bitcoinâs next stop if $90K doesnât hold.
⢠Aksel Kibar: Believes $73,700âBTCâs previous all-time highâcould act as the last line of defense.
đĄ Why This Pullback Might Be Healthy
Not all hope is lost! đ Onchain data shows that tradersâ unrealized profits are shrinkingâa sign that the market is cooling off after its explosive rally above $100K.
âThis is healthy,â says CryptoQuantâs Julio Moreno. âCorrections like this help stabilize the market.â
đĽ 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 dropsâpossibly 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. đŞď¸
This isnât just tradingâitâs survival in the crypto jungle! đ´đŚ
Where do you think Bitcoin is heading next? Share your thoughts below! đ