Summary
- Analyst Alixjey predicts Bitcoin could fall to $63,000 if it fails to break through the $99,500 resistance level. This is presented as a potential buying opportunity for long-term investors.
- Another analyst, Herbert Sim, anticipates a steeper but temporary Bitcoin crash to $40,000, also suggesting it will eventually rebound, benefiting long-term holders.
- Upcoming Non-Farm Payroll (NFP) data is expected to introduce volatility in both crypto and stock markets, requiring investor caution.
The cryptocurrency market was recently shaken as Bitcoin’s price unexpectedly dipped below $90,000, a downturn that surprised many who anticipated continued upward momentum.
Despite this market turbulence and ongoing price declines, one crypto expert is forecasting a potentially sharper correction. This analyst suggests Bitcoin could plummet to as low as $63,000 if a crucial resistance level remains unbroken.
Alixjey, a crypto analyst on TradingView, has indicated that for Bitcoin to resume its upward trajectory, it must decisively overcome the $99,500 price point.
According to his analysis, failure to breach this resistance increases the likelihood of a more substantial price decline, potentially driving the leading cryptocurrency down to around $63,000, marking new lower price levels.
Bitcoin last traded near the $60,000 mark during the significant price surge experienced in 2024, following the introduction of Spot Bitcoin ETFs.
Considering Bitcoin’s peak this year has been as high as $104,000, a retracement towards $60,000 would represent a considerable setback for investors and the overall market sentiment.
In a chart shared by the TradingView analyst, scenarios are presented where Bitcoin might climb to $106,000 or conversely, descend to a range between $60,000 and $65,000 should it fail to overcome the specified resistance.
This potential price decrease is identified as a favorable moment for long-term investors to buy and accumulate Bitcoin, representing an opportunity to enter the market at a more attractive price point.
During Bitcoin’s peak prices, many retail investors were likely priced out of the market due to the escalating cost. It was predominantly larger investors, or “whales,” making substantial acquisitions of Bitcoin in single transactions valued at millions of dollars.
Alixjey characterizes his predicted drop to the $60,000 – $65,000 range as potentially the last significant buying opportunity to get back into the Bitcoin market.
He emphasized this level as a key point for those seeking to profit in the later quarters of 2025, suggesting an expected price recovery for Bitcoin in the latter half of next year.
Furthermore, the expert from TradingView pointed out two short-term liquidity zones within the 4-hour chart that are likely to be activated soon.
He also clarified his current bearish stance on Bitcoin’s price in the immediate future, noting that his anticipation of a short-term pullback would only be negated if the cryptocurrency successfully surpasses the resistance zone situated between $94,000 and $98,000.
Analyst Sees Potential for Recovery Following Bitcoin Price Declines
Along with Bitcoin’s recent price downturn, numerous analysts have voiced bearish perspectives on the cryptocurrency.
These analysts anticipate a notable price correction before any potential rebound can occur. One such voice is Herbert Sim, the Chief Marketing Officer (CMO) of AICean.
Sim predicts that Bitcoin will experience further declines, especially in light of the recent approval of a crypto reserve in the United States.
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*Disclaimer*: We at Bitcoinleef.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice and viewers should consult their financial advisors before investing.
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