Summary
- It was analyzed that if Bitcoin fails to maintain the support line of $97,700~$98,000, there is a possibility of further decline.
- It was reported that in an environment where market participants find it difficult to gain confidence in price increases, this could affect investors' market trust.
- There is a forecast that Bitcoin will retest $100,000 in the future, and after losing the support line, the possibility of breaking through the low is being highlighted.
On the 10th (local time), the cryptocurrency-focused media Cointelegraph, citing data from MarketPro and TradingView, analyzed that "Bitcoin (BTC) has the potential for further decline around $97,604."
An anonymous cryptocurrency analyst, Skew, explained, "If the price fails to hold within the $97,700~$98,000 range, market participants may find it difficult to have confidence in future price increases."
Furthermore, cryptocurrency analyst More Crypto Online predicted, "Bitcoin recently fell to $94,000," and "there is a possibility of another low occurring in the future. If this low is surpassed, Bitcoin may retest $100,000 and potentially break through it."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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