Bitcoin

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/popular-analyst-warns-of-correction-risks-for-bitcoin-above-100000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Popular Analyst Warns of Correction Risks for Bitcoin Above $100,000</a><br></p>
<p style="text-align: justify">A popular analyst tracking Bitcoin’s impressive rise in 2023 warns that even if the leading <a href="https://en.coin-turk.com/bitcoin-and-altcoins-rising-open-interest-and-potential-squeeze-risks/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> surpasses the $100,000 mark, it may face serious correction risks if it cannot maintain that level. Known as DonAlt, the analyst has made notable evaluations regarding Bitcoin ’s price movements.</p>
<h2 id="will-bitcoin-s-rise-above-100-000-be-sustainable">Will Bitcoin’s Rise Above $100,000 Be Sustainable?</h2>
<p style="text-align: justify">DonAlt emphasizes that surpassing the $100,000 level is a significant psychological threshold. However, he indicates that failing to maintain this level could lead to a sharp market correction. In a statement to his 63,000 YouTube subscribers, he mentioned that if Bitcoin retreats to $90,000, it might find an opportunity for recovery.</p>
<p style="text-align: justify">“If Bitcoin drops to $90,000, it may encounter resistance at that point. However, I do not believe this movement will yield positive results in the short term. A more meaningful rise requires BTC to exhibit a strong stance above $100,000,” he stated.</p>
<h2 id="correction-risk-remains-a-concern">Correction Risk Remains a Concern</h2>
<p style="text-align: justify">The analyst points out that current price movements increase the risk of a correction. He suggests that if Bitcoin remains stuck at a certain resistance point or experiences a sharp drop, a larger selling wave may occur in the market. In such a scenario, the $90,000 level could serve as a short-term support point for traders.</p>
<p style="text-align: justify">“If BTC cannot hold at the $100,000 level, it signals alarm bells for the market,” added DonAlt, stressing that traders should exercise caution. He noted that establishing a strong support area for Bitcoin would be challenging without reaching the $120,000 level.</p>
<p style="text-align: justify">As of this writing, Bitcoin is trading at approximately $94,245. Traders closely monitor the movements of the leading cryptocurrency at these critical levels. The performance of Bitcoin according to support and resistance points will play a crucial role in determining future market direction.</p>
<p>The post <a href="https://en.coin-turk.com/popular-analyst-warns-of-correction-risks-for-bitcoin-above-100000/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Popular Analyst Warns of Correction Risks for Bitcoin Above $100,000</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Popular Analyst Warns of Correction Risks for Bitcoin Above $100,000

Table of Contents

COINTURK NEWS

Other articles published on Nov 26, 2024

Binance Launches BFUSD Reward-Bearing Margin Asset Tomorrow

Bitcoin price dip fails to squeeze leverage as $92.5K becomes ‘pivotal’

Avalanche Signals Bullish Momentum: Key Indicators Suggest AVAX Price Rally Ahead

Base, the Ethereum-base L-2 network, reached an all time high by hitting over 9.2M in daily trans...

Pump.fun moves 99,999 SOL worth over $23 million to crypto exchange Kraken

Bitcoin Surges Past $81,000 Amid Trump’s Victory and Pro-Crypto Political Shift

Join our free newsletter for daily crypto updates!