1. Technical Analysis: Expected Correction
Key support levels:
First support: $89,000 - $90,000, which is a strong psychological area and may see increased demand.
Second support: $85,000, if broken below the first support, it may cause a strong selling wave.
Last support: $80,000, a crucial level; if broken, the correction may accelerate towards lower levels.
Resistance levels:
First resistance: $95,000, a level close to the previous high, where strong selling pressure may appear.
2nd Resistance: $99,500 - $100,000, if this barrier is broken, there will be a strong chance of reaching new highs.
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2. Potential New Highs
If the previous high at $99,588 is broken, the following can be expected:
First target: $105,000, which is expected historical resistance based on the momentum of buyers.
Target 2: $110,000, if liquidity and positive momentum support the market.
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3. Factors supporting new peaks
Positive news: such as regulatory approvals or wider adoption of the currency.
Increased institutional demand: entry of hedge funds or large investors.
Halving: An upcoming event that is expected to reduce supply in the market, supporting prices.
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4. Aggressive Correction Scenario
If the market loses momentum:
We may see a drop to the $85,000 area as the first target.
If no buy signals appear at this level, the next target could be $80,000, with a possible extension of the decline to $75,000.
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5. Short-term outlook (coming weeks)
In case of strong positive momentum:
Bitcoin may retest $99,500 and possibly surpass it to $105,000.
If a correction occurs:
A drop to $85,000 could be likely.
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recommendation:
For day traders: Monitor support and resistance levels closely and use a tight stop loss.
For long-term investors: Accumulating Bitcoin at lower levels (in case of correction) could be a good opportunity.
Please keep an eye on the news and analysis, as the market is very volatile!
