Could ,000 be next for Bitcoin’s price if it fails to regain this crucial resistance?

Could $91,000 be next for Bitcoin’s price if it fails to regain this crucial resistance?

2 minutes, 15 seconds Read

BTC has settled around $107,000 so far after recent wild swings.

A lot can change in the cryptocurrency markets in the space of about ten days, which has become apparent since October 10. At the time, BTC was trading confidently above $120,000, just off a new all-time high at $126,000. The general sentiment was clearly bullish since Uptober had just started, and the huge price predictions went from left to right.

Then on October 10, all hell broke loose when BTC fell as low as $20,000 on some exchanges, hitting a low of $101,000 (on Binance). Although it recovered immediately after freeing billions of over-leveraged positions, recovery efforts were halted at $116,000, and on October 17, the bears returned.

As reported yesterday, Bitcoin experienced another volatile rollercoaster, this time dropping below $104,000. Trump’s positive news on the US-China tariff front brought some relief, and BTC has since stalled at $107,000. The question now is what’s next, and analysts are quick to offer differing opinions.

Reclaim these levels, BTC

Satoshi Flipper weighed in on the lower time frame (1 hour), proverb that “the market would love to see BTC reclaim $108,000 and break this LFT falling wedge resistance.”

Michaël van de Poppe highlighted another important level that BTC can recapture: $110,000. He believes that liquidity has disappeared recently, meaning ATH levels are out of the question for a while. However, if BTC breaks above $110,000, the broader market structure could improve immediately.

And if not?

Crypto Tony outlined the other side of the coin. He noted that BTC is still in grave danger of falling below the coveted $100,000 level that the crowd is anticipating, as stated in a recent poll report. The analyst foresaw another wave to the downside, especially if BTC fails to stage a quick and decisive recovery.

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In Crypto Tony’s doomsday scenario, Bitcoin will fall to $95,000 or even $91,000 before finally bottoming out.

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