Bitcoin Must Hold Above $93,500 to Avoid Potential Crash
Crypto analyst Rekt Capital indicated that Bitcoin must hold above $93,500 to avoid a significant price drop. Failing to maintain this support could erode recent gains.
Key Points
- Bitcoin price needs to stabilize above $93,500 for confirmation of the current breakout.
- A weekly close above this level is critical to regain former support and facilitate further increases.
- Recent rally attributed to Bitcoin's perception as a safe haven amid market uncertainty.
- If BTC holds above $93,500, it could aim for $100,000 or even reach a new all-time high of $110,000.
- Analyst Ezy Bitcoin forecasts potential targets of $131,500, $144,900, and $166,700 based on ongoing bullish momentum.
- CrediBULL Crypto suggests one more upward movement is required to confirm the breakout, with dips considered buying opportunities until reaching $150,000.
- A correction below $89,000 may indicate a longer wait for a significant breakthrough.
Currently, Bitcoin trades around $92,600, reflecting a decline over the last 24 hours.
