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Bitcoin continues to be at a critical level that might determine its next move. With current sentiment turning negative, expectations proceed that the subsequent move for Bitcoin price is more likely to be a rapid price crash. This appears to be supported by technical patterns that show the cryptocurrency has fallen below a vital level. As previous performances show, the probability of BTC following the historical trend is high and ultimately negative for the worth.
Why Bitcoin Price Could Crash
As sentiment plummeted and sell-offs intensified, the likelihood of a crash also increased. A key development that means one other decline is imminent is that Bitcoin price has lost a trendline on the log chart, a move that has historically been bearish for the worth.
Crypto analyst and CMT certified expert Tony “The Bull” Spilotro highlighted this development and showed the bearish movement. According to Spilotro, Bitcoin price has now lost the logarithmic trendline that began back in 2024 and this has immense consequences for the cryptocurrency.
Source: X
Historically, when Bitcoin price lost this trend line on the log chart, the result was all the time very pessimistic. The usual final result was a drop in prices; Therefore, it is vital to keep watch over this break. If that is the case, it could mean that the BTC price decline is much from over.
The crypto analyst explains that the fractal will not be a given and should not expire exactly, but that doesn't mean it isn't necessary. “The fractal just isn’t a guarantee, however it is a superb example that one shouldn’t ignore the lack of a linear trendline on a log chart,” Spilotro explained.
If the trend actually develops as expected, it essentially implies that the Bitcoin price decline is much from over. So far, there have been analysts warning of lower prices, with some predicting that BTC would fall as little as $50,000.
BTC price crashes to $86,000 | Source: BTCUSD on Tradingview.com
Featured image by Dall.E, chart by TradingView.com
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