After Bitcoin fell on Friday, leaving the $ 7,000 level behind, analysts have been mainly bearish, not expecting BTC reversals so far.
Many traders expect the price of the crypto-king to continue its bearish reversal. In their forecasts, traders say that BTC is targeting at least the $ 6,200 zone, but it could plunge even lower.
“If the BTC closes under the confluent resistance this weekend”
The prominent trader “Crypto DonAlt” shared his prediction with his 138,600 Twitter followers, saying that he envisages three levels of support if BTC closes under confluent resistance this weekend.
The mark on the chart approximately in the area of $ 6,250 is the highest target among those – for “giga bulls”. Vocal bears can expect between $ 4,200 and $ 4,000, he says. The target between the merchant’s mentions is $ 5,250.
“Losing this level could bring the BTC down to $ 5,300”
The trader “Credible Crypto” draws the attention of his subscribers to the $ 6,400 to $ 6,200 brands, calling them crucial on the chart right now. These are necessary for the BTC to maintain itself, specifies the trader, otherwise it could print more losses and go down to $ 5,300. “Credible Crypto” believes The BTC will however hold more than $ 6,000.
“6.2-6.4 k $ BTC is the most important level of the imo graph. As long as this level is maintained, this is the purchase of the dip op you have been waiting for. Lose that and we see 5.3k imo. I think it holds. “
“$ BTC – Short configuration of the HTF swing. Range, wyckoff – whatever your flavor. If the highest room is in place and the price starts to close within the range, then I will target the low end and the low end. I’m just waiting to pull the trigger for now. Maybe get a bounce. “
Coming back above $ 7,000?
The trader known as “Satoshi Flipper” seems more positive on the one hand, expecting the BTC to reverse and head above $ 7,000. On the other hand, he’s also ready to see the flagship crypto crash.