Bitcoin (BTC) returned to where it started days after testing the $ 65,000 level. It had also stalled at $ 50,000 levels last month. The price, which could not maintain its stability above $ 65,000, was making previous attempts at higher resistance zones. This process, in which lower peaks are formed, can have annoying results.
Bitcoin Could Drop to $31,500
Reputed cryptocurrency analyst In the chart shared by Ali_Charts, it is mentioned that the BTC price can make deeper lows. Although September is famous for declines, the target he gave could cause altcoins to turn into a bloodbath. So what makes him worry about $ 31,500? Whatever happens Bitcoin (BTC) $54,380.21 It could fall to $31,500. The answer is of course here. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
“Warning!
Historically, when Bitcoin price falls below its Realized P/V ratio, it usually pulls back to its Realized P.O. It should be protected at $51,600, and closing below it could open the door to $31,500.”
For altcoins, such a scenario could bring losses exceeding 80%. Considering the weakness in buyer liquidity and the potential sales that will be triggered in the ETF channel, the consequences will be severe.
ETH and LUNA Coin Price Target
Daan Crypto Trades is Ethereum (ETH) 
$2,296.16 interested in its price. The largest by market value altcoin The analyst warns that closing below $2,103 is extremely risky, as he believes the pair is set to show strong volatility. However, he says it is a good chart to watch as the price has previously initiated a strong bounce from this area to $2,800.
“ETH has returned to the major support level below.
“There’s still no one in this area. And I don’t want to see him test this level too many times. It’s a good level to watch.”
LUNA Coin The chart is quite clear. There is significant support at $0.31 and a close below it will target a new ATL level. For now, there have been no sustained closes below the key area and the bulls are far from setting a new all-time low below $0.25.
Considering the current state of the markets, the risk of a bigger decline in September, etc., a significant portion of LUNA Coin investors have already sold. However, if BTC falls sharply, losses may increase as investors who think they are evaluating the bottom will now abandon LUNA Coin.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
