Analyst Warns of Potential Bitcoin Crash – Target Levels Revealed | Bitcoinist.com

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Bitcoin is currently trading above $100,000, remaining close to its peak of $111,900. Despite this, the bearish sentiment persists in the crypto market, particularly affecting altcoins, which have faced significant declines with no apparent end. A crypto analyst has identified the reasons for Bitcoin’s bearish trends, even while it holds above $100,000.

Reasons for Bitcoin’s Bearish Outlook

In an analysis, crypto analyst Anup Ziddi suggests that Bitcoin may continue to exhibit bearish tendencies. One critical factor is that the leading cryptocurrency by market cap is trading under an important threshold at $107,000.

To date, $107,000 has proven to be a significant barrier, acting as resistance during Bitcoin’s previous attempts at setting new all-time highs. Following a price drop, this level has reverted to resistance, with bulls struggling to break through in order to initiate an uptrend. Thus, $107,000 has emerged as the key level to surpass for further upward movement.

According to the analyst, Bitcoin’s price remains bearish as long as it lingers below this point. The longer it stays beneath $107,000, the greater the chance of further declines. The immediate target is the $103,500 level, which was already tested earlier this week. Following that, $102,500 could come into play, with $100,000 positioned as the last target before reaching major support.

In addition to Bitcoin’s trading below this key psychological level, the analyst also cites deteriorating geopolitical conditions as a driver for the decline. This trend has become apparent as Bitcoin’s value has dropped following Donald Trump’s renewed tariff strategies, which have created turmoil in financial markets.

Source: TradingView.com

Further Downward Pressure on BTC

Another analyst has highlighted the ongoing bearish sentiment around Bitcoin, suggesting a further dip for the cryptocurrency. The analyst attributes this to factors such as liquidity sweeps, fair value gaps, and deteriorating market structure.

The analyst emphasized that the previous rise above all-time highs was not a genuine breakout, labeling it a stop hunt. Additionally, the fair value gap is currently positioned between $105,600 and $106,000, and as Bitcoin struggles to reclaim this level, it raises the likelihood of a further pullback.

Lastly, the breakdown that pushed Bitcoin back toward $104,300 is seen by the analyst as an initial indication of bearish continuation. “Should the price move back into that imbalance and demonstrate rejection, I anticipate lower continuation, targeting $104,300 and eventually $103,600,” the analyst remarked.

BTC rebounds from $100,000 support | Source: BTCUSD on TradingView.com

Featured image from Dall.E, chart from TradingView.com

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