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BitcoinSistemi 2025-03-09 14:41:08

Analytics Company Shares Critical Level That Must Be Maintained To Avoid Aggressive Bitcoin Decline

Analytics Company Shares Critical Level That Must Be Maintained To Avoid Aggressive Bitcoin Decline

Cryptocurrency analytics firm Alphractal has issued a significant warning regarding Bitcoin’s price action, saying that BTC needs to hold onto a position above $84,000 to avoid a more aggressive correction. According to Alphractal, Bitcoin is currently sitting at a key support level within the CVDD (Cumulative Value Days Destroyed) Channel, a model designed to dynamically analyze support and resistance levels. The specific level in question is seen as CVDD×2.618, a Fibonacci factor that places critical support at $84,640. Alphractal explains that this pattern has historically been quite effective in identifying Bitcoin price bottoms across multiple market cycles. Once a key level is broken within the CVDD Channel, the price typically heads toward the next support or resistance zone. Related News: JUST IN: Important Statement from Binance About Two Altcoins - Part of Users' Losses May Be Refunded If Bitcoin consolidates above $84,000, the firm suggests that it could form a local bottom before making a fresh move toward all-time highs. However, failure to maintain this level for several days could trigger a more significant decline. In the event of a breakout, Alphractal identifies two key downside targets: $64,700 is a level that coincides with Bitcoin’s all-time high in April 2021. $60,000 could act as another major support zone. If Bitcoin moves toward these lows, there could be a strong bearish sentiment in the market. However, the firm notes that a similar correction occurred between May and July 2021, but Bitcoin eventually recovered and reached new highs later that year. *This is not investment advice. Continue Reading: Analytics Company Shares Critical Level That Must Be Maintained To Avoid Aggressive Bitcoin Decline

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