- Crypto analyst estimates that reclaiming $112k could trigger an uptrend for BTC Price.
- Alternatively, falling below $107k could see major corrections.
- Bitcoin tokens were last seen being traded at $109,231.50.
A crypto analyst has highlighted two crucial levels for BTC price, adding that the weekend could see fewer activities. Meanwhile, BTC price is down over the past 24 hours, and may mark upticks in the days to come. However, sentiments are currently bearish, and technical indicators are not precisely sending positive signals.
End Levels for BTC Price
Ted Pillows, a notable crypto analyst & an opinion leader, has said that the BTC price has two crucial levels. These are $112k and $107k, with the Bitcoin token hovering around $109,000 when he stated his analysis. Ted stated that BTC price has a chance of starting an uptrend if it reclaims the high end of $112k.
Pillows has mentioned that the Bitcoin token could enter a broader downtrend if it falls below $107,000. Calling it a bigger correction, the notable investor has clarified the chances for BTC to go through some volatility. Nevertheless, weekends are likely to be cooler, per his post on X.
BTC Price Movement
BTC price is currently down by 0.43% in the last 24 hours, exchanging hands at $109,231.50. It further reflects that the price of the Bitcoin token has plunged by 5.5% and 3.18% over the past 7 days and 30 days, respectively. The 24-hour trading volume is down by 38.97% when the content is being drafted.
BTC price fell as low as $108,778.32 during the last 24 hours, triggering fear among the crypto community. Next, it touched $108,873.44 hours after the low mentioned previously. BTC price is now attempting recovery, again, with the recent uptick of $0.02% in the last hour from the time of writing this article.
What’s Next for BTC?
BTC is estimated to surge in the next 30 days. Short-term BTC price prediction expects the flagship cryptocurrency to soar by 4.98%, taking the value to around $114,891. Current sentiments flag bearish emotions with an FGI rating of 33 points. The prevailing volatility is 2.30%, and the 14-Day RSI is 37.81 points. Uptrends could potentially reverse this week’s negative flows from Spot Bitcoin ETF.
Bitcoin tokens have alternate crucial support levels of $110k-$108k. It is also possible that margins have changed, considering the crypto market is subject to fluctuations and volatility. That said, it is important to note that the contents of this article are neither recommendations nor advice for crypto trading.
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Source: https://thenewscrypto.com/crypto-analyst-sets-crucial-levels-for-btc-price-over-the-weekend/
