Bitcoin Faces High Risk of 'Mother of All Crashes' as Key Support Level Tested
Friday, 19 April 2024, 12:27
Bitcoin Faces Major Crash Risk
After briefly plunging below $60,000, Bitcoin (BTC) has rebounded, aiming to sustain its gains above the $65,000 mark. Notably, the cryptocurrency has exhibited heightened volatility leading up to the halving event, yet uncertainty looms regarding its future trajectory.
Expert Analysis by Alan Santana
- Santana forecasts a grim outlook for Bitcoin, hinting at a potential 'mother of all crashes' due to weakening support
- Bitcoin faces challenges in critical support range of $59,000 - $63,000
- The expert warns of impending crash with bears dominating the market dynamics
The more often a support level is challenged, the weaker it becomes... Prepare for the crash, the expert cautioned.
Bitcoin Price Analysis
- Bitcoin may find support at EMA50 level, but faces uncertain future
- Critical support levels: $44,400 and range between $37,000 - $33,333
- Geopolitical tensions and upcoming halving event impacting market dynamics
Santana's insights warrant consideration as Bitcoin tests crucial $63,000 support level, highlighting the cryptocurrency's ongoing risks.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.