Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 12762
Markets: 99578
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
Market Cap
24h Vol
12762
Cryptocurrencies
59.29%
Bitcoin Share
Crypto Potato 2025-02-02 14:50:34

Bitcoin Price Analysis: BTC Risks Plunging to $92K if This Support Fails

Bitcoin Price Analysis: BTC Risks Plunging to $92K if This Support Fails

Bitcoin is once again dropping lower after failing to breach the $108K resistance level. Investors are worried that this could be the start of a much deeper correction as the asset is currently beneath the coveted $100,000 mark. Technical Analysis By Edris Derakhshi (TradingRage) The Daily Chart On the daily chart, it is evident that BTC’s price has been consolidating below the $108K level and is now breaking the $100K support zone to the downside. If this level is lost, a deeper drop toward the $92K area could be expected in the coming weeks. With the RSI also showing values below 50%, it is quite likely that this bearish scenario will become a reality. The 4-Hour Chart On the other hand, the 4-hour chart offers more hope for a rally higher in the coming months, as the asset is moving inside a large bullish flag pattern. At the moment, the price is dropping toward the lower boundary of the pattern, and if it holds, the market could rise higher and break the pattern to the upside, which could lead to a bullish continuation. However, if the lower trendline breaks down, things can get ugly very quickly, and the market will drop to the $92K level and probably even lower. On-Chain Analysis By Edris Derakhshi (TradingRage) Long-Term Holder SOPR Bitcoin’s price has been consolidating around all-time high values over the past few months, and this is likely due to the massive amount of profit-taking by investors. This is observable on the Long-Term Holder SOPR metric. The Long-Term Holder SOPR indicates the ratios of profits taken by investors who have held their BTC for more than 6 months. As the 30-day moving average of this metric shows, these holders have been actively selling their BTC to realize profits, which has led to the market’s failure to rally higher. However, these profit-realization values are still lower than those witnessed last summer when the market was trading lower. Therefore, if the selling pressure is somehow reduced, there is a high probability that BTC will rally even higher. The post Bitcoin Price Analysis: BTC Risks Plunging to $92K if This Support Fails appeared first on CryptoPotato .

Most Read News



Cryptohopper
Market Cap
24h Vol
59.29%
Bitcoin Share
331
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.