Arthur Hayes announced the level he expects in Bitcoin (BTC).

Arthur Hayes thinks that Bitcoin (BTC) may fall below $ 50,000. Data from TradingView shows that BTC fell to $ 55,500 during the Asian session and a new downtrend may begin. Before the announcement of US unemployment data, it was observed that the bulls were insufficient to push the price up.

Arthur Hayes believes that $BTC

will test below $ 50,000. Hayes, who took a short position for BTC, naturally upset his followers. However, he is not the only one expecting a decline in Bitcoin. Another cryptocurrency analyst, Caleb Franzen, expressed the reason for expecting a decline as follows: “The 200-day Simple (#SMA ) and Exponential (#EMA ) moving averages indicate that a new decline in Bitcoin is imminent.”

Popular cryptocurrency investor Peter Brandt also approached the subject from a similar perspective: “The megaphone structure that emerged on the weekly chart could be the trigger for a new decline in #BTC . Sellers have been dominating the market for months. The lower limit of the technical structure is $46,000. An upward push is needed for us to see a bull market. But for now, sales are stronger than purchases.”

As of the writing of the news, the leader of cryptocurrencies, which found buyers at $55,880, may face selling pressure unless it can exceed $60,000. As analysts say, it would be useful to follow the $46,000 - $50,000 range as a support zone.