Bitcoin Price Crash Predicted: Could BTC Plunge Below $90,000?

Bitcoin's recent price action has fueled concerns of an impending market correction. Despite briefly approaching $111,000, BTC failed to break resistance, leading to a decline and raising the specter of a double top or lower high formation. Crypto analyst MIRZA predicts a potential crash exceeding 15%, pushing Bitcoin below $90,000, possibly reaching as low as $85,000 before finding a bottom. This bearish outlook stems from the weakening price and bearish chart patterns. However, a break above $107,000 could reverse the trend. Another analyst, RLinda, attributes the bearish shift partly to the Israel-Iran conflict. While Bitcoin currently holds support above $100,000, RLinda suggests a potential range between $102,500 and $106,200. Breaking above $106,200 could lead to a rally above $110,000, but losing the $102,500 support could trigger another drop towards $100,000. The conflicting analyses highlight the uncertainty surrounding Bitcoin's near-term price trajectory, with the possibility of a significant correction looming large. The analysts' differing predictions underscore the volatility and inherent risk within the cryptocurrency market, emphasizing the need for caution and thorough due diligence before investing. The geopolitical instability adds another layer of complexity, potentially influencing price movements independent of purely market-driven factors. These predictions serve as a reminder of the inherent risks involved in cryptocurrency trading, underscoring the importance of responsible investment strategies and risk management. The combination of technical analysis and geopolitical factors makes predicting the future price of Bitcoin exceptionally challenging.

(Source: https://www.newsbtc.com/news/bitcoin/bitcoin-price-primed-90000/)