Bitcoin (Btc) Still risk a crash for $ 75,000 because the weakness of BTC prices accelerates weekly closely.
How low is going to BTC price action before looking for the bottom? Famous market participants weigh as data from Cointelegraph Markets Pro and Tradingview Showing BTC/USD down more than 3% on March 9.
Bitcoin eats through the liquidity of the bid
Books of Exchange Order formed an area of intense interest in Bitcoin entrepreneurs as the weekly candle approaches.
Destruction levels on both sides of the area look ripe for extraction, with long payments as BTC/USD sags at $ 83,000.
“Map of Liquidation says: The hunting of whales stops!” Famous businessman ThekingFisher wrote in a Warning to the followers of X during the day.
“Lots of long fluids around $ 84300! Shorts stacked near 86500-87000. Learn these levels for stopping losses!”
The liquid data of bitcoin exchange. Source: ThekingFisher/x
Data from the resource tracking Coinglass Currently putting aggregate 24-hour crypto fluids of over $ 300 million.
The thicker bid of the bid throughout the exchange stands just below $ 83,000 at the time of writing, with the price of the area dangerous near the lowering of the lower.
BTC Liquidation Heatmap (screenshot). Source: Coinglass
$ 75,000 btc price dip next?
Can multimonth lows start February of $ 78,000?
A Bearish BTC price suggests that the market has not finished retesting levels that have not been seen since November last year.
For popular businessman Mikebull Crypto, there is a clear chance that Bitcoin will examine the 50-week simple transfer of average (SMA).
“$ BTC is likely to go for MA support for a potential local bottom,” he predicted.
BTC/USD 1-week chart with 50sma. Source: Mikybull Crypto/x
The BTC/USD last contacted the 50-week SMA in September but avoided a weekly candle near its below March 2023.
Meanwhile, the 200-day SMA, also returned to the radar as the price challenged it for the first time since October.
BTC/USD 1-week chart with 50-week, 200-day SMA. Source: Cointelegraph/TradingView
95% odds holding $ 69,000
Number Cointelegraph reported Last week, a historic accurate BTC price mechanism suggests that the real floor is now around $ 69,000.
Related: Bitcoin gets a March 25 ‘blast-off date’ while the US dollar hit 4 months low
It will take BTC/USD to the old 2021 all-time high and mark a 37% correction compared to the current.
The lowest tool at the forward price provides 95% certainty that Bitcoin is at least. Its track record is amazing -awesome, correctly stated that the BTC/USD will never revisit $ 10,000 after September 2020.
The lowest chart of Bitcoin lowest price. Source: Timothy Peterson/X.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
