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Since January 31, Bitcoin (BTC) has seen a significant correction, as the leading cryptocurrency has decreased to 27.52 %.
Bitcoin price is estimated at about 79,000 dollars, and it is unstable over the decisive support level called “Magic Line”, which is 74,000 dollars, and is a pivotal in determining the market path – urinary or landing.
Historical insulation against bear markets
In a conversation Social media yet On X (previously Twitter), Doctor Profitist, the market expert, confirmed that the “magic line” of $ 74,000 in its analysis is not just a number but a major indication of market morale.
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According to the expert, this line was historically as a buffer against the conditions of the bear market. For example, during the correction of the 2020 market, Bitcoin was placed above this support level until a Bear market It was confirmed. “A massive correction, up to 30-50 %, does not mean the bear market.”.
This market fluctuations are exacerbated Fears of stagnationPartially driven by President Donald Trump’s aggressive policies targeting countries such as China, Canada and Mexico.
These measures ignited concerns about a possible trade war, which has increased investor morale and leads to a decline in the most dangerous assets, including cryptocurrencies.
However, BTC is not alone in this The declining direction. Their peers such as ETHEREUM (ETH), XRP, Solana (SOL) and Cardano (Ada) have also advanced Bitcoin in this regard, as it suffers from 10 %, 6 %, 5 % and 6 % respectively in the time frame for 24 hours.
Bitcoin’s optimum entry point between $ 52,000 and $ 60,000?
In the last talk mail On the social media platform X, Doctor Profit discussed a possible stagnation scenario, indicating that the optimum entry point for investors may range between $ 52,000 and $ 60,000.
This expectation includes a potential decrease of 34 % from 79,000 dollars towards the worst BTC Case scenario at $ 52,000 if this occurs, which increased concerns about traders and investors alike.
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The doctor’s profit remains awake, and not only monitor bitcoin movements, but also the effect of the stock market on Encryption. He put his eyes on a short, critical location with the target profit level (TP1) that corresponds to the magic line.
“If Bitcoin bounces hard, I will go back to entering it,” the market expert said. Dr. Rabah concluded his analysis, saying that “if he shows weakness, I will keep cash and search for lessons between 50,000 dollars and $ 60,000.”
While finding at least a temporary foothold at the mark of $ 79,460, the largest digital assets, BTC, decreased by 14 % in the past two weeks, as it has reached its lowest level since November 2024.
Distinctive image from Dall-E, Chart from TradingView.com
