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The Bitcoin price is falling fast, and with bears currently taking control, a crypto analyst has forecasted an impending crash below $100,000. While this potential downturn may sound alarming, the analyst has also revealed that after the pullback, Bitcoin (BTC) is expected to undergo a significant price rally to new all-time highs. Bitcoin Price Faces Immediate Crash Risk
Bitcoin appears to be entering a cooling phaseafter experiencing a significant bullish run that spanned several weeks and led to its current all-time high of almost $112,000. ‘MelikaTrader94’, the TradingView crypto analyst responsible for this new technical analysis, predictsthat during this cooling period, bears could take over and send the Bitcoin price crashing down to former lows under $100,000. Related Reading Bitcoin Price Crash To $100,00 Loading: Next Targets Revealed As Bears Take Over 8 hours ago
On a 4-hour chart presented by the analyst, Bitcoin has consistently respected a descending trendlineacting as a strong resistance threshold. This line, which formed after the recent peak, has now rejected price actionmultiple times, preventing further upward movement and hinting at growing bearish pressure in the short term. Source:MelikaTrader94 on Tradingview
At the time of the analysis, Bitcoin was trading at $106,432, attempting to test the descending trendline once again. However, the chart shows that BTC lacks strong momentum, suggesting that another rejection is likely. If this rejection occurs, BTC’s price action is expected to correct downwardtoward the $99,000 region, marked on the chart as a key horizontal support zone.
Bitcoin’s projected pullback is consistent with typical market behavior, especially after an extended bullish phase. Based on the TradingView expert’s analysis, a drop to the $99,000 support level could shake out weak hands and provide fresh buy-dip opportunities for traders. While the structure of the projected downward move is not entirely bearish, it suggests a necessary retest of lower support areasbefore any sustainable rally can resume. Bullish Continuation Expected After Pullback
MelikaTrader94 has suggested that correcting down to the $99,000 support zone is critical for determining Bitcoin’s next rally. If this crash successfully occurs and buyers step in to defend the support, BTC could begin forming a strong bullish continuationstructure. Related Reading Bitcoin Price Crash: Why $107,500 And $103,500 Are The Levels To Watch 2 days ago
The TradingView analyst’s chart outlines a possible rebound from the support area, which could trigger a breakout above the descending trendline. A sustained move above this trendline would potentially invalidate the short-term bearish structure and set the stage for a new all-time high, with price targets extending beyond $114,000.
Notably, Bitcoin’s consolidation around its current price of $104,500, followed by a possible dip to the well-established support zone, fits the analyst’s narrative that the market is preparing for a big move. The TradingView expert has urged investors and traders to keep an eye out for a strong bounce, as this projected pullback could be a healthy one that comes just before a bullish leg up. BTC trading at $104,744 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com