Bitcoin Price Dips After Reaching $102K: Is $95K Next?
Bitcoin price has fallen by more than 4% in the past 24 hours, trading below $98,000 at the time of writing. Analyst Crypto Capo recently said that the market could soon drop between 5% and 15%, saying this could be an excellent “buy the dip” opportunity. Many people are still wondering if Bitcoin has peaked. Bitcoin hit a high of $102,712 on January 7 before reversing, erasing gains.
The latest price action continues to raise questions about Bitcoin’s next big move. Despite the recent pullback, the current trend remains upward and Bitcoin remains above key support levels. While the recent correction has been minor and appears to be part of a larger ongoing uptrend, new all-time highs are possibleApproximately $130,000 or more, still in mint condition.
Bitcoin’s recent moves have pushed the price to important levels such as $100,800, indicating short-term bullish momentum. However, any fall below $100,590 would herald a further pullback, while a fall below $100,220 would increase the likelihood of a sharp price decline, analysts said.
While Bitcoin may move higher again before correcting, the current pullback is being watched closely for signs of a potential reversal. For traders, a break below the above mentioned levels would be a signal to watch closely as it could indicate a larger bearish phase with potential support near $93,600.
in conclusion:
Bitcoin has shown signs of strong gains over the past few days, breaking a bearish trend. A break above a key resistance level suggests further price gains are possible. However, a potential correction is still possible as Bitcoin’s price may face challenges before confirming a sustained upward trend.
