Bitcoin Enters Critical Phase Amid Potential Price Drop to $35,000

Bitcoin (BTC) is at a critical decision phase after a strong upward move, showing signs of hesitation. Analyst Tony Severino indicates this may signal a shift in market behavior rather than an immediate price reversal.

  • Severino's analysis shows Bitcoin entering a critical phase with a robust upward trend slowing down.
  • The market is testing if buyers can continue pushing prices higher or if the upward move has ended.
  • A Doji candle near the trend top suggests market uncertainty, not necessarily a sell signal.
  • The market could enter a consolidation phase or face distribution as momentum fades.
  • There is also potential for a final push higher if late-cycle momentum kicks in.

Bitcoin

Potential Decline to $35,000

Expert Lofty warns of a possible deeper price crash, citing similarities with the 2021 bull run and a Double Top pattern.

  • If Bitcoin follows its historical four-year trend, the price could drop to $35,000 within two weeks.
  • This would represent more than a 60% decline from its current value over $88,500.

Bitcoin