Bitcoin Close to ‘Dicting Your Next Move’ Every Day, Price Drop Possible?

Published on:

This article is also available in Spanish.

Bitcoin (BTC) started the week in the red, falling to its lowest level in over a month. In the face of these results, some analysts believe that the BTC price will likely see another decline before the flagship cryptocurrency reaches fresh highs.

Bitcoin needs a daily close above $91,000

On Monday, Bitcoin shook off the weekend’s gains, falling 5.8% to $90,300, its lowest price since November 18. The flagship cryptocurrency ended last week with generally positive results, approaching $96,000 and closing above $94,000 on Friday.

This performance continued throughout the weekend, with the price of Bitcoin fluctuating between $93,700 and $95,900 over the past two days. This week started with seven straight red one-hour candles that fell below $91,000 for the first time since the December 19 correction and fell lower than the December 5 correction.

However, Bitcoin has rebounded after falling below this key level, regaining recent lost ground. Rekt Capital cryptocurrency analyst he stated that BTC’s daily close will guide its next move, suggesting it needs a close above $91,000 to confirm recovery.

The analyst explained: “Last week, Bitcoin broke above the Range High resistance of $101,000. Bitcoin is potentially hovering below the Range Low support of $91,000 this week. He he stated that BTC closed above the high of the $101,000 range last Monday, but after the breakout it failed to retest towards fresh support, returning to the $91,000-101,000 range.

This week, Rekt Capital added that even if Bitcoin closes the day below the $91,000 low range, it will likely need to turn that level into resistance for its price to fall to the $87,000-$91,000 range.

Nevertheless, he stated that Bitcoin generally needs to close above this key level to sustain in its current range, but noted that “a lot can change throughout the day.”

Bitcoin falls below the $91,000-$101,000 range. Source: Rekt Capital

Is a drop to $87,000 coming?

Rekt Capital stressed that BTC’s monthly gains in January are “patchy and mostly bearish.” As CoinGlass data shows, Bitcoin’s performance was mostly bearish in January. Since 2013, BTC has started the year in the red seven times, including the current 2025 results.

According to the post, the market usually “recovers” in February. He added that higher time horizon levels, which “appear to be lost as support,” are “likely to be regained” in the future.

Meanwhile, Altcoin Sherpa thinks that the “last liquidation wick” will expire before the “BTC reversal”. The analyst also suggested that Altcoins are likely to drop another 30-50% ahead of Altseason.

Likewise Daan Crypto Trades he noticed that “several shorts” have hit the market in the last few hours. The trader noted that “the price is slowly falling” as these positions are usually “punished” when the bulls are in control.

Daan explained: “At some point the shorts will need to close, but that likely won’t happen before the market declines further in combination with spot selling from Coinbase.” He added that “slow grinds end in a violent wick, then the shorts start making profits and we see a (local) bottom.”

Additionally, a trader highlighted similarities between BTC’s performance between December 2023 and January 2024 and December 2024 and January 2025. If history were to repeat itself, Bitcoin’s next move could be a correction of support at $87,000, followed by a period of consolidation in the fresh compartment.

At the time of writing, BTC is trading at $91,700, down 2.9% on the daily time frame.

Bitcoin, BTC, BTCUSDT
Bitcoin performance on the weekly chart. Source: BTCUSDT on TradingView

Featured image from Unsplash.com, chart from TradingView.com

Related

Leave a Reply

Please enter your comment!
Please enter your name here