Crypto analyst – Alan Santana, expressed his prediction that Bitcoin (BTC) will fall by 45% to between the $35,000 level.
Recently, $BTC has been in a state of flux after recovering from a dip below the $60,000 level and climbing back to the $61,000 level.
However, Bitcoin still failed to penetrate important resistance points at $63,500, and shows that bearish sentiment continues to dominate the market.
On the other hand, crypto analyst – Alan Santana, has predicted that this is not the end of the Bitcoin price crash.
Crypto analysts predict Bitcoin price falling to $35,000
In his latest analysis of the #bitcoin☀️ price, Alan Santana has predicted a possible price crash in the near future.
The analysis, posted on the TradingView website, takes into account BTC's past performance, identifying various points such as maximum declines.
Santana points out that for Bitcoin, the maximum pain point currently lies between the 0.618 and 0.786 Fibonacci retracement levels.
This means that Bitcoin price has gone far from its lowest point, by this analysis. Because the Fibonacci retracement level is still very low at the moment.
Based on this, crypto analysts believe that the price will continue to fall with the maximum pain point sitting around $34,900 and $42,855.
With this prediction, it means that Bitcoin price could fall as high as 45% from current levels if it does play out.
Interestingly, despite expecting a massive price crash, crypto analysts do not believe that prices will fall further.
In fact, he suggests that Bitcoin prices will never fall below the $30,000 price level again.
Closing the analysis with a few words for investors and traders, the crypto analyst suggests;
“Update your numbers, update your trades, update everything. This is a new number.”
While Alan Santana's predictions are very bearish for Bitcoin prices, not all analysts are on board with going the negative route.
In fact, with the Bitcoin price crashing 20%, some crypto analysts believe that the worst is over and that the pioneering crypto will soon see a bounce.
One of the crypto analysts who predicts a price increase is Doctor Bitcoin, who also posted his analysis on the TradingView website.
According to crypto analysts, it is actually time to buy BTC due to a harmonic pattern that has appeared on the charts, which points to a bullish reversal pattern.
For his target, Doctor Bitcoin has predicted a possible rise to $85,000, which would be about a 35% move from the current price point.
