Crypto price prediction: Bitcoin (BTC) next price movement will follow the psychological level

Bitcoin's price prediction:

BTC crypto analysis

Bitcoin’s price continued its downward trend on Monday, trading below $96,000 after a decline last week. The cryptocurrency faced strong resistance and was unable to hold above the $100,000 psychological level, leading to a nearly 2% drop. As of Monday, Bitcoin was priced around $95,800, showing signs of further weakness. Investors are closely watching whether the price will stabilize or continue falling in the coming days.

If Bitcoin continues to decline, it may test the $90,000 level, which is seen as an important psychological support. A break below this level could signal a deeper correction, leading to further losses. Market analysts are concerned about the overall sentiment, as Bitcoin struggles to find strong buying support. Many traders are now waiting for signs of recovery before making new investment decisions.

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Technical indicators also suggest a bearish outlook for Bitcoin. The Relative Strength Index (RSI), a key momentum indicator, dropped to 48 after failing to stay above 50, signaling increased selling pressure. Additionally, the Moving Average Convergence Divergence (MACD) showed a bearish crossover, which often suggests that the price may continue to decline. These indicators indicate that the market could face more downward movement before a potential recovery.

On the other hand, if Bitcoin manages to recover and holds above $100,000, it could regain momentum. A strong support level at this point may encourage buyers to step in, pushing the price higher. If this happens, Bitcoin could attempt to retest its previous high of $106,012, which was reached on January 31. However, for this to happen, market sentiment needs to improve, and bullish momentum must return.

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Overall, Bitcoin is currently in a critical phase, where it could either stabilize and recover or continue its downward correction. Traders and investors are keeping a close watch on key price levels and technical signals. Whether Bitcoin moves toward $90,000 or rebounds toward $100,000, the next few days will be crucial in determining its short-term trend.