Will Bitcoin go to $ 65,000? Merchants explain why they are still landing

Bitcoin (BTCIt recovers up to 14 % after declining to the lowest level in four months near 76,600 dollars on March 11. But the price of BTC decreased by approximately 25 % from a record level of about $ 110,000, which is normal for “Correction of the bull market“

However, some analysts expect the bitcoin price to continue to continue in the future.

“Dark Cloud” hints by Bitcoin

Bitcoin faces renewed declining pressure after its rejection at 87,470 dollars, which is the resistance of the concession channels, with the “dark cloud cover” pattern that enhances the downtom direction, according to the analysis. subscriber By gdXTrader on X.

The dark cloud covering pattern occurs when it follows a strong green candle that opens above the previous closure but closes the bottom of the middle of the first candle body.

Such a shift in the feeling indicates that buyers have tried to pay higher but overwhelmed the sellers, which often leads to more negative side.

GDXTRADER indicated that Bitcoin’s failure to close within the resistance area is 90,000-93,000 dollars indicating that there is no purchase condemnation, saying that the cryptocurrency will remain under downsed pressure unless it is decisively broken over the aforementioned range.

BTC price “perfect rejection” risk $ 65,000

Bitcoin’s capabilities are established from its “ideal rejection” after testing the area between 86 and 88,000 dollars analysis From the popular trading Credbull Crypto.

Related to: This is why the bitcoin price cannot rise from 87.5 thousand dollars

It is worth noting that Bitcoin tried to go out towards the local supply area, which was marked in red but failed to maintain it over the mentioned resistance area, which is evident from the orange circle in the graph below.

The failure to restore the supply area increased the probability of low levels of support is about 77,000 and $ 79,000 (highlighted in green) by March. The test of this field as support led to sharp counterattacks in March.

However, if this support zone erupted, a deeper step less than 77,000 to $ 79,000 can extend towards a region between 65,000 to 74,000 dollars-the largest green liquidity area in the above graph-by April.

Analyst George subscriber A similar look, as shown below.

“It is difficult to stay optimistic” with the pattern of bear science

According to the analyst CryptopusBitcoin is still closely related to traditional stock markets, especially S&P 500 (SPX) and NASDAQ 100 (NDX), both of which display the bear mark patterns on the plans.

The bear mark is formed when the price is uniformly within a parallel upward channel. It solves whether the price is less than the lower direction line and decreases by the extent of the previous lower direction.

BTC follows a similar structure for a bear science, with $ 84,000 working as a lower direction line. The rest at the bottom of this threshold may lead to a deeper sale of about 72,000 dollars for the technical base shown above.

Moreover, Bitcoin’s association with stocks has grown due to a wider decrease in the dangers, led by US President Donald Trump World Trade War.

Arthur Bretman, co -founder of Tezos, called for us The largest external risk in the encryption market.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.