Bitcoin (BTC) is currently trading without the main demand levels after losing the $ 90,000 mark earlier this week. The price has placed a mark on fresh bottoms, and the bulls lost control as the market faces intense sale pressure. BTC decreased by 14 % in less than three days, and the panic sale phase entered as investors interact with uncertainty in the market.
The sudden decrease raised fear and speculation, as some analysts call on the bear market while others are optimistic about BTC’s long -term forecast. Despite this sharp correction, some encryption experts argue that selling panic at this stage is a rising error.
Cryptoquant Ki Young Ju shared major measures on X with BTC withdrawing after discovering the price, noting that these types of corrections are historically normal in Taurus markets. According to JU, if you are selling panic now, you are likely to be without a hoop – it is exaggerated that this is the typical shaking designed to expel the weak hands before the next gathering.
With the price of Bitcoin to less than 90 thousand dollars, the next few days will be very important to determine whether BTC settles, recovers or continues to decrease towards deeper demand levels.
Bitcoin faces a correction stage
Bitcoin has faced its largest correction this year, as the price struggles less than the level of 90 thousand dollars, as the fear of the investor and uncertainty dominates the market. The sudden decrease has rocked confidence, and speculation about the potential bear market rises with BTC set its lowest levels.
Despite the sharp decrease, senior analysts are still watching the main assertion levels. The market is in a critical stage, as BTC can either merge less than 90 thousand dollars for a long time or see a strong boost more than 95 thousand dollars to confirm the recovery rally. The next few days will be crucial in determining whether Bitcoin settles or faces more negative pressure.
Vision Ki Young Joe On the correction, explain that the withdrawal of 30 % in the Bitcoin Bull cycle is common. He states investors that in 2021, BTC decreased by 53 % during its bull market, however it is still recovering to reach the highest new level ever. JU warns of emotional trading, saying that the purchase when prices and sale rises when they decrease is the worst investment strategy.
Joe emphasizes that investors should have a clear plan rather than responding back. While the last basic procedure appears frightening, historical trends indicate that this type of correction is normal in the long -term Bitco Bull race.
BTC new demand level test
Bitcoin is currently trading at 86,400 dollars, as it hovers over the 200 -day SIA moving average (EMA) and 5 % away from the 200 -day moving average (MA). These main indicators work in long -term support levels, and control over it is crucial for bulls to prevent more negative side.
If BTC settles on these levels, the next main step in restoring the bullish momentum will exceed the level of 90 thousand dollars. However, the market is still very volatile, and this process may take time before the next main gathering takes off. Investors closely monitor the price procedures to see if Bitcoin can maintain the recovery stage or whether another wave of sale pressure will push them to low -order areas.
Historically, when Bitcoin tests a master’s degree 200 days, it often leads to a period of unification before a big step. If Bulls managed to restore the mark of 90 thousand dollars and keep it as support, this would indicate a possible appeal in the upward direction. However, failure to retain current levels may lead to more declines, with 82 thousand dollars to 84 thousand dollars as the next major demand zone.
Currently, merchants are waiting to see if Bitcoin can defend their current levels or if a longer unification stage is needed before the outbreak occurs.
Distinctive image from Dall-E, the tradingView graph
