Bitcoin (BTC) is still at risk of a crash at $ 75,000 as the low BTC price accelerates in the weekly fence.
How much can BTC price action go before finding a background? Popular market players weigh like Cointelegraph Markets Pro and TradingView data show BTC / USD more than 3% on March 9.
Bitcoin eats by liquidity of offers
Exchange control books are an intense area of interest among Bitcoin traders as the weekly candles approaches.
The liquidation levels on each side of the cash price are ripe for taking, with long already paying in the form of SAG BTC / USD at $ 83,000.
“The liquidation card says: the whales stop!” The popular merchant Thekingfisher wrote in a warning to X followers of the day.
“Many long liquidations around $ 84,300! Shorts stacked nearly 86500-87000. Know these levels for stopping losses!
Bitcoin exchange of liquidity data. Source: Thekingfisher / X
The monitoring data of Resource Correglass is currently putting global cryptography liquidations 24 hours a day at more than $ 300 million.
The liquidity of the thickest offer between exchanges was less than $ 83,000 at the time of writing, the cash price is dangerously close to the decline.
BTC liquidation Heatmap (screenshot). Source: Coringlass
$ 75,000 BTC Price Next Dand?
Could the $ 78,000 multimons hollows in February be just the start?
A BTC Bearish price is suggested that the market has not made a recovery level that has not been seen since November of last year.
For the popular merchant Mikybull Crypto, there is a clear chance that Bitcoin retains its 50 -week simple mobile average (SMA).
“$ BTC probably heading for the MA support for a potential local background,” he predicted.
BTC / USD 1 week with 50sma. Source: Mikybull Crypto / X
BTC / USD interacted for the last time with the SMA of 50 weeks in September, but avoided a weekly candle closed below since March 2023.
The 200 -day SMA, on the other hand, is also back on the radar, because the price has challenged it as support for the first time since October.
BTC / USD 1 week with an SMA of 50 weeks and 200 days. Source: Cointelegraph / TradingView
95% like $ 69,000 will hold
As Cointelegraph reported it last week, a historically precise BTC price mechanism suggests that the real floor is now at around $ 69,000.
In relation: Bitcoin obtains on March 25 “explosion date” while the US dollar strikes a hollow of 4 months
This would bring BTC / USD back to its old high 2021 and would mark a correction of 37% compared to its current one.
The lowest price tool gives 95% certainty that Bitcoin will not become lower. Its history is impressive, having properly declared that BTC / USD would never return $ 10,000 after September 2020.
The lowest price price. Source: Timothy Peterson / X
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
