Bear Market Could Emerge Within 3 Months
Because Bitcoin (BTC) has consolidated an important milestone higher than 100,000 US dollars, it has previously violated the challenging resistance level. Market analysts are closely monitoring the potential of further price increases and the possibility of a new historical highest level (ATHS).
For the market -leading cryptocurrency, in the near future, the key threshold of $ 109,000 is imminent, but experts warn that the clock may drop Bear market This may appear in just three months.
Analysts warn that the frosted bear market Bitcoin
Marketing experts and technical analyst Ali Martinez in the nearest recent Social media post X (formerly Twitter) on the historical mode observed after the Half of the Bitcoin was available.
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Analysts believe that Bitcoin and wider cryptocurrency markets can enter the bear cycle for about 90 days from now on. The forecast is based on the cyclical nature of Bitcoin’s price change, especially in the past few years, from a historical point of view, this is a major correction.
As the figures are further seen above, Martinez pointed out that the total number of days of checking each BTC’s minus cycle shows the similarities between the previous cycle between 2012 and 2016. It lasted 367 before entering the bear market 367 sky.
As of now, Bitcoin and a wider range of cryptocurrency markets are 276 days in this cycle, which indicates that economic downturn may be closer than expected by some investors.
Will the price reach $ 200,000 before falling?
Martinez’s further analysis combines the Wyckoff method, which is a technical analysis framework that identifies the market cycle.
according to For this method, Bitcoin may approach the last leg before entering the distribution stage, which is the merger period before the price decline.
At this stage, Ali Martinez predicts that the price of BTC may be traded between 140,000 and $ 200,000, and then experienced a significant decline of $ 100,000.
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However, despite these warning predictions, Martinez also pointed out that there is still potential to grow in the short term. He painted Compare By the 2015-2018 cycle, the price action of Bitcoin at this junction was shocking to the similarities of this period, which eventually led to rising parabolic prices.
In addition, Mayer’s multi -estimation indicator is the condition for measuring the excessive Bitcoin, which is currently under review. Historically, when the Bitcoin transaction is higher than the 2.4 oscillator, the Mayer multiple indicates that the market rises.
At present, this level Sit up Close to $ 182,000, which indicates that Bitcoin still has room for growth before reaching the peak of the potential market at this cycle.
When writing this article, the maximum cryptocurrency calculated based on the market value was 102,900 US dollars, a decrease of more than 1.5 % within 24 hours.
Dall-E characteristic image, chart of tradingView.com
