WILL BITCOIN RECOVER AFTER THIS FIRST CRASH OF THE YEAR!

ALL BITCOIN LOVER SHOULD POSITION THEMSELVES!

Bitcoin's recent crash has left many investors wondering if it will recover. The cryptocurrency's price has been volatile, with a 5.16% drop in a single day, sending shockwaves across the crypto market .

However, experts believe that Bitcoin's price may consolidate further before demand returns to the market.

Several factors contributed to the crash, including a slump in Open Interest, sell-side imbalance, a spike in US 10-year treasury yields, and a lack of a higher high to flip the market structure bullish .

Despite this, some analysts predict that Bitcoin's price will recover, with potential targets at $105,000 and $118,000 .

It's also worth noting that Bitcoin's dominance has reduced on the weekly and daily timeframe, hovering around 57% .

The total altcoin market capitalization shows signs of recovery on the daily chart, which could be a positive sign for Bitcoin's recovery.

Key Support Levels:

CME Gap: $94,970 to $94,495

Value Area Low: $93,299

Lower Support Levels: $92,266 and $90,835

Overall, while the current crash may seem alarming, Bitcoin has historically shown resilience and the potential for recovery. However, as with any investment, it's essential to do your own research and consider multiple perspectives before making any decisions.