Bitcoin (BTC) on the Brink of Crashing to $70K or Skyrocketing to $93K

Bitcoin (BTC) is trading at around $83,820, experiencing 3.4% decline from the previous close. The current market trend suggests a period of consolidation, with BTC attempting to find support after failing to break key resistance levels.

Daily Timeframe Analysis

On the daily chart, Bitcoin is consolidating near $84,000, struggling to sustain upward momentum. The Relative Strength Index (RSI) indicates indecisiveness, suggesting that traders are waiting for a clearer direction. Key support sits at $82,000–$83,000, which could be tested soon if selling pressure persists.

Weekly Timeframe Analysis

Bitcoin recently hit a high of $88,752 on March 24 but has since been forming lower highs and lower lows, signaling a downward trend. The failure to break the $88,000 resistance increases the likelihood of further retracement. If BTC remains below this level, it could see a correction toward $80,000 or even $75,000 in the coming weeks.

4-Hour Timeframe Analysis

The 4-hour chart shows BTC stabilizing near $87,000, with traders hesitant to push the price higher. If BTC fails to regain momentum above $85,000, it may trigger a larger sell-off. Short-term support sits at $82,500, and a break below this level could accelerate the decline.

Predicted Next Move

Bitcoin’s next move depends on whether it can hold above key support levels:

Bearish Scenario: If BTC loses support at $82,000, it could decline to $78,000–$75,000 before finding strong buying interest and if buyers fail to gain control, BTC price may drop to $70,000 if the downward momentum continues.
Bullish Scenario: If BTC reclaims $85,000–$86,000, it may attempt another run toward $90,000–$93,700. However, this relief rally could be short-lived unless buying volume increases.

BTC is currently in a high-risk zone, with a higher probability of short-term downside. Traders should monitor the $82,000–$83,000 support—if it holds, BTC could attempt recovery; if broken, expect a further drop toward $75,000.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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