New analysis suggests that Bitcoin’s (BTC) price could be about to undergo a planned crash, which would take the cryptocurrency below $107,000. next bullish rally. Market structure for cryptocurrency currently shows a brief bearish correction, within a larger bullish trend. Supporting the possibility of an potential surge to new all-time highs soon.
Bitcoin is preparing for a final dip below $107,000
Crypto market expert, Tehi Thomas, in a recent TradingView postThe suggestion that Bitcoin’s current structure The system may have reached its last corrective phase. Analysts point out a potential price crash Smart money is playing a game of strategy by putting the price below $107,000.
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Analyst shared chart that showed Bitcoin’s price descending while forming lower highs. In addition to these highs the market has also been respecting an descending trendlineThis pattern often signals short-term pressures that are bearish. Noteworthy, it appears that this trendline could serve as a possible trap to induce a liquidity grab Discount entry.
Thomas notes that Bitcoin’s expected price will dip once the $107,800 sell-side liquid area is reached. Fair Value Gap (FVG)This FVG overlaps with critical Fibonacci levels, particularly the 0.786 retracement near $106,200, strengthening the confluence for a move down. This FVG intersects with Fibonacci critical levels, notably the 0.786 Retracement at $106,200. potential reversal point.
Thomas has highlighted that this level of $106,200 is a high-probability buy zoneThe analyst’s report also highlights the potential for institutions to reenter the marketplace. Analysts’ opinions are particularly important. anticipated price correction for Bitcoin This isn’t a structural breakdown or market failure but a calculated liquidation grab in order to make up for the last lag. The accumulation phase is complete as long as price remains within the range of $106,000 and shows bullish orders after that.
ALl-Time Highs In Sight After Key Reversal
After Bitcoin has completed its projected sweep of the FVG and filled the entire chart, it is predicted to create a reversed structure which could be the catalyst for the next big rally. Thomas believes that Bitcoin is still on track to reach its overall goal, despite the anticipated crash. macro trend remains bullish. A short-term decline is often viewed as a precursor to a more significant move towards a new record high.
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Thomas’s chart shows the $105,500 area as the final target and ATH, along with a layer of liquid above. The analyst’s hypothesis is that, once the sell-side pressure Bitcoin may once more regain its bullish momentum if it is exhausted, and displacement confirms a change in direction.
TradingView’s expert pointed out, too, that FVG near the $106,200 mark acts both as a liquidity magnet and a launch pad, launching the flagship crypto into the mainstream. price discovery mode Again. Currently Bitcoin trades at $108,744 meaning that a surge up to $110,500, the projected ATH, would represent a 1.61% gain.
Chart from Tradingview.com, image from Pixabay
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Source: www.newsbtc.com
