Bitcoin, which has experienced a depreciation of about 10 percent on a daily basis for the first time since FTX's bankruptcy, continues to trade above 26 thousand dollars after falling to 25 thousand 166 dollars. This sharp decline of #BTC , which found a buyer at $ 29,500 just a few days ago, has also raised the question of which direction the number one cryptocurrency's next move will be.

“I wouldn't be surprised if he tests 20 thousand dollars”

Wolfe Research technical analyst Rob Ginsberg told CNBC, "Unfortunately, I still see the current situation on the Bitcoin chart as quite alarming. You never know what the momentum will be, but as we mentioned in the note we published earlier this week, the worsening trend and momentum marked a significant decline for Bitcoin. Bitcoin is currently in oversold conditions and we are close to Deceleration, with significant support between $24,750 and $25 thousand. I wouldn't be surprised if he tests 20 grand before the end of the year after a dead cat bounce.” he commented.

“If the decline continues, the next target will be 19 thousand dollars”

StockCharts com technical analyst Julius de Kempenaer suggested that if the declines in Bitcoin continue, the next target will be $ 19 thousand, the lowest level of March 2023. According to Kempenaer, in the event of an increase, the March 2022 high of $ 48 thousand is within the possibility. Kempenaer said, " While the upper and lower bound are becoming increasingly obvious, the most likely scenario in the short term is that BTC will go back and forth in the December of 25 thousand to 30 thousand dollars." he spoke in the form of

“Our short and medium-term indicators indicate that the decline will continue”

Katie Stockton, founder of Fairlead Strategies, stated the downside targets as $5,200 and $20,600, respectively. Stockton said, "Our short- and medium-term indicators indicate that the decline will continue, while long-term indicators continue to improve." said.

"Macro uncertainty keeps investors away”

Noelle Acheson, manager of Genesis Trading, told Bloomberg in an assessment, "Macro uncertainty is high and this situation is keeping investors away. In addition, liquidity is also still weak. As a result, there is not enough faith yet.” he used his expressions. Acheson, in the sequel, made the following assessment:

“If the stock market's decline accelerates, crypto will also most likely suffer from this, as investors will prefer to lock in their profits as much as possible and stay in high-yield cash until the partnership subsides.”

“With every sharp decline this year, a recovery has come”

On the other hand, Stephane Oullette, CEO of FRNT Financial, wrote that after every sharp decline this year, a recovery has come. Oullette said, "We will get more hints in the next few days about whether the sales will continue.” he commented. In addition, he suggested that if Bitcoin experiences a stable October break below $25 thousand or gains a strong momentum above $30 thousand, it would be a sign that a major deviation will occur. #Binance #crypto2023