I just saw this news on Binance this morning, and truly for the past few days Bitcoin seems to be depreciating.
On Jan 8 Bitcoin experienced it second-steepest daily decline which has now further lead to market uncertainties.
And according to Binance if Bitcoin closes below $90,000 on the daily chart, analyst warns of a deeper crash . And a confirmed inverse head-and-shoulders pattern could lead to a further 20% drop potentially targeting $71,500.
What are your take on this?
I don't think so, as of writing this right now, BTC has been recovering, mainly due to trump inauguration I guess where it priced the price before the inauguration, causes the significant bounce from $90k all the way to $108k, but I don't think there will be another crash, I see BTC foundation as more solid than ever, more and more investor coming whether the active one or passive one.On Jan 8 Bitcoin experienced it second-steepest daily decline which has now further lead to market uncertainties.
And according to Binance if Bitcoin closes below $90,000 on the daily chart, analyst warns of a deeper crash . And a confirmed inverse head-and-shoulders pattern could lead to a further 20% drop potentially targeting $71,500.
What are your take on this?
though can't deny such crash to be possible, seeing from the technical analysis and the liquidation heatmap the chance for BTC to chase the liquidity at sub 90k is definitely there
