Bitcoin Daily Close To ‘Dictate The Next Move’, Is Another Price Drop Ahead?

1 day ago

Bitcoin (BTC) started the week successful the red, falling to its lowest level successful implicit a month. Amid this performance, immoderate analysts see BTC’s terms volition apt spot different driblet earlier the flagship crypto aims for caller highs.

Bitcoin Needs Daily Close Above $91,000

On Monday, Bitcoin shook disconnected the play gains, dropping 5.8% to $90,300, its lowest terms since November 18. The flagship crypto ended past week with an wide affirmative performance, nearing $96,000 and closing Friday supra $94,000.

This show was held passim the weekend, with Bitcoin moving betwixt the $93,700 and $95,900 terms scope the past 2 days. This week started with 7 consecutive reddish 1-hour candles, dropping beneath $91,000 for the archetypal clip since the December 19 correction and dipping little than the December 5 pullback.

However, Bitcoin bounced aft dropping beneath this cardinal level, recovering the precocious mislaid mark. Crypto expert Rekt Capital stated that BTC’s regular adjacent volition dictate the adjacent move, suggesting it needs a adjacent supra $91,000 to corroborate the reclaim.

The expert explained, “Last week, Bitcoin was deviating beyond the Range High absorption of $101,000. This week, Bitcoin is perchance deviating beneath the Range Low enactment of $91,000.” He asserted that BTC closed supra the $101,000 scope precocious past Monday but failed to retest it into caller enactment aft the breakout, reverting to the $91,000-$101,000 range.

For this week, Rekt Capital added that adjacent if Bitcoin closes the time beneath the $91,000 scope low, it volition apt request to crook that level into absorption for its terms to driblet into the $87,000-$91,000 range.

Nonetheless, helium stated that Bitcoin mostly needs to close supra this cardinal level to persevere successful its existent scope but noted that “a batch tin alteration done the day.”

Is A Dip To $87,000 Coming?

Rekt Capital highlighted that BTC’s monthly returns thin to beryllium “patchy and predominately bearish” successful January. As CoinGlass information shows, Bitcoin’s show has been mostly bearish successful January. Since 2013, BTC has started the twelvemonth successful reddish 7 times, including 2025’s existent performance.

According to the post, the marketplace usually “picks up” successful February. He added that the higher timeframe levels that are “teasing to beryllium mislaid arsenic support” are “likely to beryllium reclaimed” successful the future.

Meanwhile, Altcoin Sherpa considers that “1 past liquidation wick” is owed earlier “we reverse for BTC.” The expert besides suggested that Altcoins are apt to driblet different 30%-50% earlier the Altseason.

Similarly, Daan Crypto Trades pointed out that a “bunch of shorts person entered the marketplace successful the past fewer hours.” The trader noted that “price conscionable keeps dilatory dribbling backmost down” arsenic these positions are usually “punished” erstwhile bulls are successful control.

Daan explained, “At immoderate point, the shorts volition person to adjacent out, but they astir apt won’t bash truthful earlier pushing the marketplace down further, combined with the spot selling from Coinbase.” And added that “the dilatory grinds down extremity successful a convulsive wick, aft which shorts instrumentality profit, and we spot a (local) bottom.”

Additionally, the trader highlighted the similarities betwixt BTC’s show betwixt December 2023 and January 2024 and December 2024 and January 2025. If past were to repeat, Bitcoin’s adjacent determination could beryllium a correction to the $87,000 support, followed by a consolidation play successful the caller range.

As of this writing, BTC is trading astatine $91,700, a 2.9% diminution successful the regular timeframe.