Bitcoin Price Faces Critical Levels as Analysts Warn of Potential Decline
Bitcoin's price is entering a critical phase following decreased buying pressure. Confidence in a new bull market is wavering.
Key Levels to Watch
- Analyst Daan Crypto highlights that Bitcoin must stay above $99,000 to avoid a potential drop to monthly lows near $90,000.
- Factors influencing the price include positive US Consumer Price Index data and a favorable trade deal between the US and China.
- Daan Crypto warns that breaking current monthly highs or lows could dictate market direction through June.
Market Manipulation Concerns
- Trader James Wynn warns of increased selling pressure due to alleged manipulation by large investors targeting key price levels.
- Wynn suggests that 'Market Makers' may push Bitcoin down to around $106,000 to hunt for liquidity among retail investors.
- He anticipates a short-lived downtrend followed by a rebound, advising followers to "buy the dip."
Current market conditions indicate heightened volatility ahead.