Analyst Says Bitcoin Price At $100,000 Is A ‘Dangerous Zone’, Predicts Massive Crash

Quick Summary:

However, a crypto analyst on TradingView has issued a stark warning, labeling this price point as a “dangerous zone.” According to their technical outlook, reaching $100,000 could cause a massive correction in the Bitcoin price up to the $72,000 price level.

Bullish Sentiment Outweighs Bearish Sentiment If the bearish scenario outlined by the analyst comes to pass, it could plunge the crypto market into another bear market, with other cryptocurrencies mirroring Bitcoin’s downward trajectory and erasing recent price gains.

From here, the analyst expects the occurrence of a market structure break (MSB), which in turn would trigger a broader correction for the BTC price.  Interestingly, the analyst predicted that breaking below the $94,000 price level would lead to a retest of $88,000.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Crypto Crypto analyst BTCUSDT Bitcoin price Btc price Btc BTC news Bitcoin Crypto news Bitcoin Btcusd Bitcoin news Analyst

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-06 @ 23:00:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 468 words

Reading Time: 3 minutes read

Sentences: 69 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 24178470

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