Is Bitcoin price going to crash again?

Bitcoin is attempting a soft recovery today, but failure to flip $95,000 back to support could lead to a classic Thanksgiving price dump.

Bitcoin’s

BTC

tickers down

$95,117

price dropped below $95,000 on Nov. 25, breaking below an ascending broadening wedge pattern. While the crypto asset has found support from the 100-day EMA level, combined overhead resistance from the 50-day EMA and the $95,000 price range may restrict immediate recovery to the range highs around $99,000.

With multiple altcoins recovering faster than BTC, analysts are at odds with whether Bitcoin is heading for more corrections or a higher high at $100,000.

Bitcoin’s second target is “still 20.7% away”

While Bitcoin has declined by more than 5% over the past two days, Javon Marks, an independent analyst, mentioned that the current “pullback” is possibly short-term.

On the other hand, Ran Neuner, Crypto Banter founder, took an opposing viewpoint, targeting the CME gap at $77,800. The analyst said that BTC could drop as low as $73,000 if prices break below the aforementioned range within the next 21 days.

From a technical standpoint, Cryptotoad, an anonymous analyst, also opened the possibility of “lower numbers” based on the current impulse wave structure.

Meanwhile, Horse, a commodities and indexes trader, outlined a retest zone between $88,500 and $82,000. Based on auction market theory and volume profile, Bitcoin is expected to bounce from this range over the next month.