Bitcoin

Momentum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-potential-correction-risks-ahead" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Potential Correction Risks Ahead</a><br></p>
<p style="text-align: justify">A prominent analyst has raised concerns about <a href="https://en.bitcoinhaber.net/bitcoins-steady-performance-contrasts-with-rising-altcoins" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s ability to sustain its price if it surpasses the $100,000 milestone. Known as DonAlt, he has been monitoring Bitcoin’s remarkable ascent throughout 2023 and warns that a significant correction could follow if the cryptocurrency fails to maintain its new levels.</p>
<h2 id="can-bitcoin-sustain-its-momentum-above-100-000">Can Bitcoin Sustain Its Momentum Above $100,000?</h2>
<p style="text-align: justify">DonAlt highlights the $100,000 mark as a crucial psychological barrier for traders. He believes that failing to hold this level could lead to a sharp market correction, especially if Bitcoin retraces to $90,000, which he regards as a potential recovery point.</p>
<h2 id="what-are-the-implications-of-a-market-correction">What Are the Implications of a Market Correction?</h2>
<p style="text-align: justify">The analyst cautions that persistent price movements at resistance points could trigger a significant selling wave. If Bitcoin struggles to maintain its footing, a substantial correction may arise, with $90,000 acting as a temporary support level for traders.</p>
<p style="text-align: justify">Key insights from DonAlt’s evaluation include:</p>
<ul>
 <li>Bitcoin’s inability to sustain the $100,000 level could signify market instability.</li>
 <li>A drop to $90,000 may create resistance against further declines.</li>
 <li>Establishing robust support requires Bitcoin to exceed $120,000.</li>
</ul>
<p style="text-align: justify">At present, Bitcoin is valued at around $94,245, and traders are closely analyzing its performance at this critical juncture. The cryptocurrency’s ability to navigate these support and resistance levels will significantly influence its future trajectory in the market.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-potential-correction-risks-ahead" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Faces Potential Correction Risks Ahead</a></h5>

Bitcoin Faces Potential Correction Risks Ahead

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