This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target
Based on previous predictions Bitcoin flash crash A cryptocurrency analyst has set a new target for the pioneer cryptocurrency to $94,000. Analysts expect Bitcoin price to drop sharply again before then record high.
Bitcoin on target to hit $130,000 after flash crash
The recent Bitcoin flash crash triggered a major correction in the broader crypto market. Bitcoin price over the past week lost In less than 30 minutes, the price increased by $3,000, falling from $97,000 to $94,000 before quickly rebounding above $97,000. This unexpected flash crash triggered widespread liquidationMore than $1.5 billion in long and short positions were wiped out as traders scrambled to cut losses.
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Currently using Bitcoin Showing signs of momentumAnalysts expressed expectations for future price increases. Notably, a TradingView cryptocurrency analyst named “Setupsfx” shared Detailed price charts predicting Bitcoin’s future direction and next target.
The analyst, who accurately predicted a Bitcoin flash crash to $94,000, has now expanded his forecast to include a potential recovery phase. According to his latest analysis, Bitcoin is expected to find strong support around $96,000 level Following a short-term price correction in this key area. This new support level is seen as a healthy pullback that helps build momentum for an upward move.
Analyst’s chart depicts accumulation stage On the left, price appears to have moved sideways during this period, forming strong lows while filling the fair value gap (FVG). Additionally, Blocks of Order and Breaks of Structure (BOS) can be identified on Bitcoin price charts.
According to the chart, Bitcoin price managed to break out of the above-mentioned accumulation area and began to rebound, taking its ATH above $100,000. This bullish momentum is consistent with the hype coming from US presidential electionpushing Bitcoin to a new all-time high.
With this in mind, analysts predict that Bitcoin will experience another pullbackcould test the $96,000 area before price reverses. This reversal is expected to trigger a new rally, potentially pushing Bitcoin towards a new target of $130,000.
Bitcoin price trend update
At the time of writing, Bitcoin price was down more than 2% in the past 24 hours and is currently trading at $97,223, according to CoinMarketCap. The cryptocurrency has pulled back slightly after hitting the $100,000 level and is currently trading below $100,000. ATH above $104,000.
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this Broader market sentiment Bitcoin has also turned bullish despite its recent price decline. It is worth noting that Bitcoin’s transaction volume has increased by 99% in the past 24 hours, and its market capitalization is approaching the $2 trillion milestone.
Cryptocurrency Analyst Jair Comments on Bitcoin’s Price Action disclosed Bitcoin’s current price action closely correlates with the bullish action during the 2020 ATH breakout. Based on these similar price movements, analysts predict that if Bitcoin maintains this bullish momentum, it may break out again soon.
Featured image created using Dall.E, chart from Tradingview.com
