Bitcoin's price is at risk of correction following a sell signal from the TD Sequential indicator. Analysts agree on a possible pullback if it fails to break current resistance levels.
Fibonacci as Key Support Levels
Fibonacci analysis highlights key support levels for Bitcoin: 1.0 at $93,483, 0.786 at $86,489, and 0.618 at $81,367. These levels may serve as cushions in the event of a price correction.
Bearish Order Block as Key Resistance
Analyst Crypto Patel warns that Bitcoin may face significant resistance at the $93,200 level. Breaking below this could confirm a bearish order block and lead to price drops to $86,000 or $81,000.
Bitcoin's Future: Potential Growth Levels
Despite a possible correction, Bitcoin could continue its uptrend after consolidation. The next potential targets for Bitcoin may be at the 1.272 level at $103,195 and 1.414 at $108,660 if it surpasses the $93,483 resistance.
Analysts emphasize the importance of current support levels for maintaining the uptrend. If Bitcoin can establish support at these levels and surpass resistance, it may reach new highs.
