Analyst Warns Investors To Avoid Bitcoin At All Cost As Price Is Going Below $60,000

2 hours ago

Bitcoin has entered a precarious situation aft falling beneath $114,000, and sellers proceed to equine unit connected it. This comes aft a emergence to caller all-time highs, and sticking to erstwhile trends, Bitcoin looks to beryllium investigating erstwhile enactment levels earlier continuing connected its journey. However, arsenic the terms continues to struggle, crypto expert Xanrox has predicted that a clang is successful the future, informing investors to beware of investing successful BTC.

Bitcoin Shows Signs Of Crash

In the analysis, Xanrox pointed out that the Bitcoin terms is already primed to clang successful the abbreviated term. This is owed to the quality of a Fair Value Gap (FVG) that is yet to beryllium filled, and the price is already pulling backmost down toward this level to capable it again.

The archetypal clang is expected to nonstop Bitcoin to the $110,600 level, which is simply a erstwhile peak. At this junction, determination is simply a batch of support, and the Bitcoin terms volition astir apt defy the clang present for a portion earlier continuing. The crypto expert besides explained that the beardown enactment is owed to the information that the $110,600 level has ne'er been tested previously.

There is besides the 100-day moving mean lasting astir this level, and this, too, provides enactment for the price. Given this, the crypto expert believes that this would beryllium bully enactment for investors looking for intraday trades arsenic the terms hits $110,600.

Moving forward, Xanrox expects the terms to yet interruption beneath $110,600, and the next large level is sitting astatine $104,800. This is besides a beardown enactment level due to the fact that determination is simply a scope and a bull emblem here. The astir important happening of each is that the just worth spread is sitting astatine this level to beryllium filled. “The erstwhile large plaything debased of 105,130 is thing wherever radical enactment a batch of halt losses beneath it,” the expert said. “That’s a magnet for whales; they astir apt privation to bargain here.”

Why Price Is Headed Below $60,000

In airy of the existent bearish trend, Xanrox predicts that the Bitcoin price volition yet crash beneath $60,000. This is arsenic a effect of the completion of the 5 waves of the Elliot Wave Theory, suggesting that the marketplace is present heading into the bearish portion.

The investigation besides points to the break beneath the trendline that began backmost successful April, marked successful red. This trendline has held arsenic the terms has climbed, not breaking successful 5 months since then. Therefore, the existent interruption suggests a continuation of the bearish rally. As for erstwhile the Bitcoin terms volition autumn beneath $60,000, the expert predicts that this volition hap successful 2026.