Historically, $BTC has seen significant drops following major bull runs, typically losing around 80% of its value:
$200 → $50
$1,200 → $200
$20,000 → $3,000
$70,000 → $15,000
If this pattern holds, a drop from $120,000 could take $BTC to around $40,000. Before reaching $120k, it’s likely to find support near $85k. Hold off on buying for now and consider accumulating around $85k.
$BTC Bitcoin’s next move could hinge on its ability to hold the current support around $25,000 to $26,000. If it breaks above the key resistance level of $30,000, it could signal a bullish reversal, potentially pushing it toward the $35,000-$40,000 range. This move would likely be fueled by renewed institutional interest or a favorable macroeconomic environment, such as a pause in interest rate hikes.
On the downside, failure to maintain support around $25,000 could lead to a retest of the $20,000 level, especially if macroeconomic conditions worsen or negative regulatory news emerges. The ongoing pressure from rising interest rates or delays in the approval of Bitcoin spot ETFs could weigh heavily on sentiment.
Currently, trading volumes suggest indecision, with Bitcoin fluctuating in a consolidation phase. If volumes increase significantly in either direction, it may indicate the start of a new trend
#BTCNextMove Currently, trading volumes suggest indecision, with Bitcoin fluctuating in a consolidation phase. If volumes increase significantly in either direction, it may indicate the start of a new trend