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Is $91K Next for Bitcoin’s Price If it Fails to Reclaim This Crucial Resistance?

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A lot can change in the cryptocurrency markets in the span of ten days or so, which has been evident since October 10. At the time, BTC traded confidently above $120,000, coming on the heels of yet another all-time high at $126,000. The overall sentiment was evidently bullish since Uptober had just started, and massive price predictions were going left and right.

Then all hell broke loose on October 10 when BTC plunged by up to $20,000 on some exchanges, bottoming at $101,000 (on Binance). Although it bounced off immediately after it cleared billions of over-leveraged positions, its recovery attempts were halted at $116,000, and the bears came back around on October 17.

As reported yesterday, bitcoin experienced another volatile rollercoaster, which pushed it to under $104,000 this time. Trump’s positive news on the US-China tariff front brought some relief, and BTC has since stalled at $107,000. The question now is what’s next, and analysts are quick to offer different opinions.

Reclaim These Levels, BTC

Satoshi Flipper weighed in on the lower timeframe (1 hour), saying that “the market would really love for BTC to reclaim $108K and break through this LFT falling wedge resistance.”

Michaël van de Poppe brought up another important level for BTC to reconquer – $110,000. He believes liquidity has disappeared lately, which leaves ATH levels out of the question for now. However, if BTC goes beyond $110,000, the broader market’s structure could improve immediately.

And If Not?

Crypto Tony outlined the other side of the coin. He noted that BTC is still in great danger of falling below the coveted $100,000 level, which is anticipated by the crowd, as mentioned in a recent poll report. The analyst envisioned another wave down, especially if BTC fails to stage a quick and decisive rebound.

In Crypto Tony’s doomsday scenario, bitcoin will fall to $95,000 or even $91,000 before it finally bottoms.

Il post Is $91K Next for Bitcoin’s Price If it Fails to Reclaim This Crucial Resistance? è apparso per la prima volta su Criptopatate.

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