What is the maximum price of Bitcoin can fall? BTC price pinpoint forecast

Cryptocurrency News – Bitcoin price indicators started to sound the alarm again, and we received a negative signal again as we started to reverse the decline in the MACD indicator. Therefore, we should not expect a reversal in the short term. While Bitcoin price continues to be rejected from critical resistance areas, the important downside support point is positioned around $70K.

In the daily Bitcoin price chart, it is still being rejected from the descending resistance line, and this resistance level is approximately at 85 thousand dollars. If the leading asset manages to break above this level, the next significant resistance area is at 88 thousand dollars. Above this level, there is a reasonable resistance around 91 thousand dollars. However, it seems that we won't need to discuss these levels. Because the Bitcoin price is breaking down by being rejected from significant resistance areas.

The price of Bitcoin has gained downward momentum as it was rejected from the resistance at $81,500 during the writing. Therefore, you can at least monitor the $78,500 level in the short term. If the leading asset cannot hold in this area, it seems inevitable that we will drop to the $70,000 range that we have been talking about for a long time.

If we take a look at the Bitcoin liquidation heat map, to be honest, we recently eliminated a long position and concentrated the liquidity area around 81 thousand dollars. In this liquidation heat map, we have two important levels. The first is around 81 thousand dollars, while the other is at 89 thousand dollars. However, as we have mentioned many times before, we cannot ignore the resistance points that exist before reaching 89 thousand dollars. Therefore, we can disregard the upward liquidation area.

The liquidation area located downward can also become a new resistance zone. We can attribute this downward trend in Bitcoin to the tremendous decline of the US stock market. Although the cryptocurrency market does not have a perfect correlation with the stock market, it is moving in a similar trend. In the cryptocurrency market, we are clearly in a trend that is quite far from an upward movement. Especially while losses in Bitcoin are in single digits, altcoins are losing value to a greater extent. Nevertheless, you can catch potential opportunities by closely monitoring support and resistance points.

The information in the article content is for informational purposes only. It does not constitute any investment advice. The author and kriptoparahaber.com are not responsible for any profit or loss resulting from your investments. Ultimately, investing is based on many factors such as information, savings, experience, research, and personal decisions.

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