$BTC

Analysis Company CEO Warns: “This Level is the Last Line of Defense for Bitcoin; If It Falls Below, a Major Breakdown Could Occur”

Joao Wedson, CEO of cryptocurrency analysis firm Alphractal, warned investors that Bitcoin is at a critical support level.

In his statement, Wedson argued that Bitcoin should not fall below the $87,500 level.

“BTC should not lose the $87,500 level, this is the last support point. This level is based on a strong metric called Alpha Price, which is based on on-chain behavior. We are still above $95,000 at the moment. However, if $87,500 is broken, it is very likely that the $75,000 level will also be lost. If this support holds, a strong base will be formed,” he said.

“I would put my stop just below $87,000. If that level is broken, losses could be limited,” Wedson said.