Bitcoin has I entered a risky situation After declining to less than 114,000 dollars, sellers continue to install pressure on it. This comes after height to the highest new levels ever, and stick to previous trends, it appears that Bitcoin is testing previous support levels before following its journey. However, with the continued price struggle, the Xanrox encryption analyst would be the collapse in the future, warning investors against investing in BTC.
Bitcoin displays the signs of disruption
In analysis, xanrox Indicate The price of bitcoin is already preparing to collapse in the short term. This is due to the appearance of a fair value gap (FVG) that has not yet been filled. The price is already down to the bottom Towards this level to fill it again.
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The first accident is expected to send Bitcoin to the level of 110,600 dollars, which is a previous height. In this intersection, there is a lot of support, and the bitcoin price is likely to resist the time here for a period of time before follow -up. The encryption analyst also explained that strong support is due to the fact that the level of $ 110,600 has not been tested before.
There is also a 100 -day moving average around this level, and this too, Provides support for the price. Given, the encryption analyst believes this will be good support for investors looking for deals during the day as the price reaches $ 110,600.
To move forward, Xanrox expects the price to finally collapse to less than 110,600 dollars, and the next main level sits at $ 104,800. This is also a strong support level because there is a bull scale and a bullfight here. The most important thing is that a fair value gap sitting at this level to be filled. The analyst said: “The decrease in the previous main swing of 105,130 is something in which people put a lot of losses under it.” “This is a whale magnet; they may want to buy here.”
Why does the price go less than 60,000 dollars?
In light of the current declining direction, Xanrox expects that the price of bitcoin will eventually be disrupted less than $ 60,000. This is a result of completing the five waves of Elliot Wave theory, which indicates that the market is now heading to the decline.
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The analysis also indicates Break under the direction line This started again in April, it was marked in red. This trend has continued with the high price, not the collapse within five months since then. Therefore, the current break indicates a continuation of the declining gathering. As for the time for bitcoin drop to less than $ 60,000, the analyst expects this to happen in 2026.
Distinctive image from Dall.e, Chart from TradingView.com
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