Bitcoin has been following a fluctuating course in recent days. Therefore, experts continue to offer some predictions about the course of the popular cryptocurrency. One of these predictions is what kind of scenario awaits the market if BTC drops to the level of 22 thousand dollars.
Some market watchers believe that BTC is clearly heading down. Javier Molina, experienced market analyst at eToro, stated that Bitcoin, which is resisting short-term investor sales “for now”, is moving towards a scenario that will “exit leveraged investors” and tests $24,800-25,000. “What makes sense in this region would be to lose $25,000 to liquidate all those positions on margin, then recover and mark another accumulation zone (always in DCA or Dollar Cost Average) for long-term investors who understand the value proposition.” he added.
As a result, Molina warned that if $24,000 is lost, the scenario will clearly turn bearish and the prevailing cryptocurrency will head towards $22,000.
Will Bitcoin drop?
The fact that the market is so turbulent, of course, makes it clear that investors are asking, “Will BTC fall?” It made him ask the question. César Nuez, technical analyst at Bolsamania, emphasized that Bitcoin has become technically complex after the recent drops and marked the $24,745 support as the price level to watch. “One should be very wary of abandoning this level of demand because if it surpasses this level, its technical prospects will become extremely complex and it will most likely return to the $20,000 level.” said.
“We will not see any sign of technical strength again unless it manages to break the $28,620 level, which is 10 percent above current quote levels,” Nuez said. used his statements.
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