Bitcoin Price Predicted to Drop Below $90,000 Before Whale Buying
- Bitcoin's price has stabilized after a recent crash, but bearish expectations remain due to the October 10 liquidation event.
- Currently trading above $100,000, Bitcoin experienced a more than 10% decline from its early October high of $126,000.
- Crypto analyst MMBTrader suggests waiting for the price to fall below $90,000 before buying, identifying this as the 'Whale Buy Zone'.
- This zone aligns with the 0.38 and 0.5 Fibonacci levels, historically marking the end of corrections and potential upward momentum.
- New traders might panic and sell between 15% and 40% loss, potentially leading to a price increase as whales buy in, driving BTC to new highs around $130,000-$140,000.
- Investors who buy below $90,000 could see significant profits if the cycle repeats.
- Traders are advised to adhere to their strategies and risk management plans amidst market volatility.
- MMBTrader cautions against panic buying/selling, stressing the importance of maintaining a disciplined mindset.
