Bitcoin Drops Below $88K – More Downside Ahead?
In my previous post, I warned about Bitcoin’s potential decline, and as predicted, it has dropped from $93K to $87K. While I still believe BTC could reach $100K, $150K, or even $200K, we might see a dip to $40K–$50K first.
Current Market Update
BTC/USDT is trading at $87,388, down 5.89%, after breaking key support levels.
The 24-hour low of $86,781 signals strong selling pressure.
Key Levels to Watch
Resistance: $89,500 – A breakout could push BTC toward $91,000 and $93,700.
Support: $86,500 – A breakdown may lead to further downside toward $85,000 and $83,700.
Market Insights
Parabolic SAR: Bearish trend, suggesting continued downside pressure.
MACD: Deep in negative territory, indicating strong downward momentum.
Volume: High selling volume increases the risk of further declines.
Trade Setup
Long Entry: Above $89,500, targeting $91,000 and $93,700.
Short Entry: Below $86,500, with downside targets at $85,000 and $83,700.
Stop Loss: $88,500 to manage risk.
Bitcoin is at a critical level—wait for confirmation before entering trades.
