Mr X
06/20 12:46
Analyst Warns: Bitcoin (BTC) Price Could Collapse
Analyst Warns: Bitcoin (BTC) Price Could Collapse to $60K If This Happens…
Bitcoin price is hanging just under $105,000 after a strong multi-month rally, but some well-known traders are starting to sound the alarm. According to Crypto Seth and CryptoPatel, the charts are flashing signs that a correction might be around the corner. One of them even suggests a possible drop all the way to $60,000 if key support doesn’t hold.
On X, Crypto Seth posted CryptoCapo’s latest chart, which shows Bitcoin price getting rejected from the $108,000 to $111,000 zone. That’s the same range as the 2024 all-time high, and the price pattern looks like a rounded top, a shape that usually hints at momentum fading.
One of the most important levels right now is $93,000. If BTC price falls below that, the chart points to a possible sharp move down to around $73,800. From there, things could dip further into the $60,000 to $65,000 zone.
That range isn’t random, it lines up with the April 2021 all-time high near $64,899 and the November 2021 breakout zone around $69,000. According to CryptoCapo, if Bitcoin breaks support, those areas could be where new buyers eventually step back in.
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