Fun

Key Fractal From 2023 Says Bitcoin Price Is Still Bullish, But A Crash To $90,000 Could Be Coming

News Feed - 2025-06-17 03:06:37

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.


Crypto analyst X Force has drawn the crypto community’s attention to a key fractal from 2023, which paints a bullish picture for the Bitcoin price. However, the analyst suggested that a drop to $90,000could still be on the cards for BTC, although that won’t invalidate the macro setup.  Key Fractal Shows Bitcoin Price Is Still Bullish


In an X post, X Force highlighted a key fractal from the early phase of the 2023 bull market and noted why it supports the view that the current trendremains bullish. He remarked that the price structure that was observed back then could offer insights relevant to the current analysis, as history often rhymes even though it might not repeat itself exactly.  Related Reading Bitcoin Price Crash To $94,000 Imminent As Fibonacci Resistance Is At Stake 3 days ago


X Force then noted that in 2023, a larger degree wave 1 terminated, followed by a shallow wave 2 that retraced only to the 23.6% to 38.2% Fibonacci levels. The analyst then declared that this interpretation wasn’t just hindsight but it was the only valid count even in real-time. He also raised the possibility of the Bitcoin price creating another low.  Source: XForce on X


X Force explained that the context of the micro timeframes is losing weight as every bounce and dump is extremely sensitive to the overall creation of the wave structure. Meanwhile, the analyst indicated that the Bitcoin pricecould still drop to as low as $90,000 but noted that it is important that BTC remains above this critical support level. 


In an X post, the crypto analyst stated that as long as the Bitcoin price stays above the $90,000 level, the implications of the shorter-term price action have zero impact on the overall macro trend. X Force added that pullbacks and choppiness are not only healthy but vital to any bull market. A BTC Price Crash Imminent?


Veteran trader Peter Brandthas raised the possibility of a Bitcoin price crash happening soon. In an X post, he questioned if November 2021 was happening all over again for the flagship crypto. His accompanying chart showed how that period formed the cycle peak for BTC, following a double top formation.  Related Reading Key Fractal From 2023 Says Bitcoin Price Is Still Bullish, But A Crash To $90,000 Could Be Coming 4 hours ago


The Bitcoin price then crashed from its all-time high (ATH) of around $69,000 and consolidated for over two years before witnessing another breakout in 2024. The chart indicated that BTC may have formed a double top again following the recent rally to a new all-time highof $111,900. If so, this could mark the end of the cycle’s bull run, with a crash set to follow. However, the chart suggested that BTC could sustain this bull run if it holds above $104,612. 


At the time of writing, the Bitcoin price is trading at around $106,700, up in the last 24 hours, according to datafrom CoinMarketCap. BTC trading at $106,976 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com

News Feed

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data Cryptocurrency prices mostly consolidated on Thursday, ahead of upcoming GDP figures from
Fidelity files S-1 application with US SEC for spot ETH EFT with staking
Derek Andersen6 hours agoFidelity files S-1 application with US SEC for spot ETH EFT with stakingStaking rewards could create a taxable event for shareholders and introduce new risks associated with the fund.2709 Total v
Bitcoin, Ethereum Technical Analysis: BTC Nears $25,000, Whilst ETH Hits $1,700
Bitcoin, Ethereum Technical Analysis: BTC Nears $25,000, Whilst ETH Hits $1,700 Bitcoin moved significantly higher on Feb. 16, as the world’s largest cryptocurrency hit its
Bitcoin Ichimoku cloud reassures as BTC price bounces from 4-month low
William Suberg9 hours agoBitcoin Ichimoku cloud reassures as BTC price bounces from 4-month lowBTC price action attempts to recover from the start of Mt. Gox transfers, but analysis argues the need to wait for longer-ter
American Economist Stephen Roach: ‘U.S. Dollar in the Early Stages of Sharp Decent’
American Economist Stephen Roach: "U.S. Dollar in the Early Stages of Sharp Decent"American economist and former chairman of Morgan Stanley Asia, Stephen Roach said on Sunday that h
Report: FTX CEO Told Staff Crypto Exchange ‘Effectively Paused’ Withdrawals
Report: FTX CEO Told Staff Crypto Exchange "Effectively Paused" Withdrawals According to a report shared by an FTX staff member, prior to Binance announcing it would acquire the ex
BlackRock Bitcoin ETF Options Surge: December 20 Call Signals BTC Price Target Of $180,000
Este artículo también está disponible en español. BlackRock, the world’s largest asset manager, has officially launched options trading for its Bitcoin ETF, the iShares
Bitcoin At A Crossroads: $97,000 Cost Basis Holds Key To Next Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning
New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning Crypto asset service providers in South Africa seeking to attract investors via advertisements must &
Biggest Movers: SOL Slips to 12-Day Low, as NEAR Drops by Nearly 12% on Tuesday
Biggest Movers: SOL Slips to 12-Day Low, as NEAR Drops by Nearly 12% on Tuesday Solana fell for a second consecutive session on Tuesday, pushing the token to its lowest level in tw
Retail Giant Walmart Enters the Metaverse With Walmart Land and Universe of Play on Roblox
Retail Giant Walmart Enters the Metaverse With Walmart Land and Universe of Play on Roblox Walmart has entered the metaverse with the launch of Walmart Land and Walmart’s Un
Turner Wright5 hours agoUS lawmakers urge White House to address North Korea’s use of digital assets: ReportSen. Elizabeth Warren was part of a group of lawmakers who pushed for provisions against crypto mixers and pri