Bitcoin Price Alert: Analyst Predicts Imminent Crash

Crypto analyst Dom (@traderview2) warns of a potential Bitcoin price collapse, citing thinning order books, relentless selling pressure, and weakening bullish momentum. He observes a “liquidity grab” pattern, where BTC surged above previous highs only to sharply reverse, indicating a possible local top. This reversal is accompanied by a three-touch declining strength formation, highlighting fading bullish momentum. Dom emphasizes the urgency for bulls to reclaim the market, pointing to alarmingly thin order books across major exchanges like Binance, Bybit, Coinbase, OKX, and Kraken. Approximately 38,000 BTC has been sold in the past three weeks, absorbed by passive bids, leaving virtually no support below current price levels. The analyst highlights a concerning lack of support down to $80,000, even with advertised support absent. This pattern mirrors the February breakdown from the $90,000 level, raising concerns of a similar fate. Perpetual futures markets show consistent taker-side selling, adding to the bearish outlook. Summer months historically bring lower liquidity and weaker market participation, exacerbating potential downside moves. Dom's bearish outlook could be invalidated by a recovery to $108,500; however, he believes a dip to $96,000–$98,000, even with a wick to $80,000, wouldn't necessarily break the structure. He concludes that time is running out for bulls to reverse the trend, given the thinning order books, intensifying selling pressure, and lack of substantial support. At the time of the analysis, BTC traded at $104,694.

(Source: https://www.newsbtc.com/bitcoin-news/itcoin-breakdown-if-this-continues-it-snaps/)