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Bitcoin (BTC) dropped 11.3% in last week, currently negotiating in the range of $ 80,000 at the time of the editorial staff. The recent decline pushed the main cryptocurrency below the 200-day mobile average (MA), which raises concerns about a deeper potential withdrawal.
Bitcoin must defend this key price level
According to an X job By the experienced analyst of Crypto Ali Martinez, BTC is now negotiated below the 200 -day MA, a key price level which historically worked as a strong support for the best digital asset.
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For the uninitiated, the 200-day MA is a famous technical indicator which essentially represents the average closing price of the BTC in the last 200 days to identify the long-term price trend. Historically, a movement supported above the 200-day MA has led to long-term increased trends while a priced price movement below the level often preceded new drops.
Martinez stressed that the BTC must remain above the risk line of the sequential TD indicator at $ 79,280. He added that a sustained movement above this level could prepare the ground for a strong upward rebound.
The BTC recovery potential was taken up by another Crypto Ted analyst. In an article on X, he pointed out that over the past two years, the BTC has frequently undergone corrections of 25% to 30% before rebounding new heights of all time (ATHS). Spoil note::
In 2023, BTC increased from $ 30,000 to $ 22,000. In 2024, BTC increased from $ 74,000 to $ 50,000. This year, BTC went from $ 109,000 to $ 79,000. We all know what happened after the last 2 major corrections.
If BTC follows a similar scheme and climbs to 30% of its current price, it could reach around $ 104,000 in a short time. However, wider macroeconomic factors – such as the trade rates of US President Donald Trump and the monetary policy of the Federal Reserve (Fed) – could have a significant impact on the BTC trajectory.
BTC must resume $ 84,000 first
In another job On X, Martinez described the potential BTC path to a new ATH, stressing that the BTC must first recover $ 84,000 as a level of support above all major increases. Once this step is secure, the digital asset could reach $ 128,000.
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Several indicators Suggest that BTC may have already found a local background, increasing the chances of a trend reversal. Rekt Capital of Crypto analyst recently noted that BTC dive $ 78,258 could mark the low cycle.
In addition, the US dollar index (Dxy) has just recorded One of its largest weekly ventilations since 2013, a decision which historically signals an upward momentum for risky assets like BTC. At the time of the press, BTC is negotiated at $ 80,137, down 3.5% in the last 24 hours.
Star image of Unplash, X graphics and tradingView.com