Bitcoin (BTC) still risks a failure to 75,000 USD, because the weakness of the BTC price accelerates to a weekly closure.
How low can the BTC price overlap before finding DNA? Popular market participants weigh as data from Cointelegraph Markets Pro i TradingView Shows BTC/USD fell by over 3% 9 March.
Bitcoin eats by BID liquidity
Exchange orders are an area of intensive interest among Bitcoin traders when the weekly candle is approaching.
Liquidation levels on both sides of the spot price are mature to receive, and long they pay as a btc/USD sag to USD 83,000.
“The liquidation map says: Whale hunt is stopping!” The popular The Eingfisher salesman wrote in warning to x observing during the day.
“Many long liquidations around $ 8,300! Shorts arranged near 86500-87000. Discover these levels of loss losses! “
Data on the smoothness of bitcoins exchange. Source: Theingfisher/X
Data from resource monitoring Kinglas Currently, it puts a total 24-hour liquidation of cryptocurrencies in the amount of over $ 300 million.
The thickest liquidity of offers between the stock exchanges was just below $ 83,000 at the time of writing, and the price of the spot is dangerously approaching the smaller number.
Thermal map of BTC liquidation (screenshot). Source: Coumingss
$ 75,000 BTC DIP Price DIP
Can Lutia Multimonthis $ 78,000 be just the beginning?
Besidish BTC Price suggests that the market is not performed at a level that has not been observable since November last year.
In the case of the popular Mikybull Crypto salesman, there is a clear chance that Bitcoin heal its 50-week-old movable average (SMA).
“$ Btc probably is going to support for a potential local DNA”, he anticipated.
BTC/1-week chart with 50sma. Source: Mikybull Crypto/X.
BTC/USD recently interaction with a 50-week SMA in September, but avoided a weekly candle closed below from March 2023.
Meanwhile, the 200-day SMA also returns to the radar, because the price challenges her support for the first time since October.
1-week BTC/USD chart with 50-week-old SMA. Source: Cointelegraph/TradingView
95% chance that $ 69,000 will take
According to Cointelegraph last week, the historically exact BTC price mechanism suggests that the real floor is currently around USD 69,000.
Related: Bitcoin gets on March 25 “explosion date” when the American dollar goes to a 4-month low level
This would take BTC/USD back to the antique 2021 of all time and would mean 37% correction compared to the current one.
A forward tool with the lowest price gives 95% certainty that Bitcoin will not be lower. His achievements are impressive, after the correct statement that BTC/USD will never repeat USD 10,000 after September 2020.
Bitcoin lowest price. Source: Timothy Peterson/X.
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
