Bitcoin (BTC) price movements show that it may fall below $ 95,000. According to technical analyzes, Bitcoin’s price graphics continue to give signs of decrease, while a “shaking” may be experienced in the market.

Bitcoin price movements are stuck in a narrow range

Although Bitcoin has been traded in a narrow price range in recent weeks, according to some analyzes on the market, this may change soon. The technical analysis platform Material Indicators said that Bitcoin may experience a shorter decline in the short term.

According to the Material Indicators team, moving averages in the daily time period indicate that the price of Bitcoin can go to lower levels. In a statement, Bitcoin’s daily chart “Death Cross” formations occurred, but at the same time the liquidity of the order in the order of order to limit the hardness of the decline was expressed.

In the analysis, it was emphasized that the 95 thousand dollar level is a strong support point, but it was possible to withdraw a retreat up to $ 92 thousand. A decrease in this region is seen as a critical test in terms of verification of support levels in the market.

It is important to be patient and disciplined in the market

In the graph shared by Material Indicators, the liquidity conditions of the BTC/USDT order book on Binance examined. While the graph shows that it has a significant purchase interest at the level of 95 thousand dollars, it was observed that all investor groups except retail investors during the weekend have reduced BTC risks.

Analysts, at this point, emphasizing that the patient should be patient and disciplined, reminded the importance of investors to adhere to their targets.

The death intersection, that is, Death Cross, is caused by the short -term moving average below the long -term moving average, and usually indicates that price movements are weakened. This may indicate that the market can enter a longer decrease trend.

Keith Alan, one of the founding partners of Material Indicators, said that he saw a possible decline as “shaking, and that he saw it as an opportunity to add to his long -term investments.

Decrease in Bitcoin transaction volume is observed

The closed Wall Street due to the presidential day holiday in the United States led to the short -term limited impact of corporate investors on the market.

According to the analysis of the trade company QCP Capital, Bitcoin’s trading volumes decreased significantly, while the general volatility of the market decreased. In a statement, Bitcoin’s recent macroeconomic data has not been greatly affected and the option market in the open interest levels remained low.

Emphasizing that Bitcoin’s correlation with stock markets continues, the crypto market is currently influenced by macroeconomic factors.

As a result, while investors expect more concrete policy changes to determine the direction of the market, the price of Bitcoin may face a critical support test between $ 92 thousand – $ 95 thousand.