We have seen the traders and analysts predicted that bitcoin will fall to $85000 while some also at the time predicted that bitcoin will fall to $75000. But what happened was that bitcoin fell to almost $89000 and move back up to over $100000 before getting to ATH. The last price move really makes those predictors predictions not very correct.
But after bitcoin increased to ATH, it got above $100000 but its fall back as been very accurate. Later $100000 become the resistance. Later $99000 become the resistance before moving slightly above $100000 again. It fell and $98000 become the resistance. I can noticed that bitcoin is unable to get above $98000 recently.
There is support around $94000/$95000. But I hope this support will not be broken to another support around $89000/$90000 after $91500.
But let me ask a question. I saw on news that bitcoin can fall to $85000. What do you think about it this time?
It all depends on then predictions these people or analyst so called are giving, if we are to come in by the short time analysis for the market price, then we may say that the market is gradually indicating for more bearish moves and those intending to buy should wait or rather set a limit order on a lower price to buy bitcoin, but if we are going on the extended long term prediction, then there is much to talk about here, we have to apply lot of principles, speculation, candles at different levels, the economy situation, demand and supply and many other things well considerable before arriving a conclusion, because at the end, some will still tells that on the long run, bitcoin is still going bullish for now.