A popular crypto analyst, Bitcoin 
$69,625He made warnings during this period when (BTC) was hovering around $69,000. Crypto investor Credible Crypto, known anonymously, informed his 433,500 followers on social media platform X that Bitcoin could fall as low as $65,000 in the near future.
Possible Declines and Market Trends
The analyst warns that if Bitcoin loses the $65,000 level as support, it could signal the beginning of a downtrend in the market.
Credible Crypto states that if $65,000 is maintained as support, Bitcoin may rise again to the $74,000 level.
“Despite the unexpected ‘strength’ on BTC, it still looks negative in the background. “While trading near $70,000, you will want to see a rebound here through $65,000 to keep bullish expectations alive.”
Intra-Market Dynamics
The analyst emphasized that Bitcoin surpassing the $71,000 level this week does not indicate a strong market trend.
“I considered breaking $71,000 bullish because I assumed we wouldn’t break these levels before we saw the next upside push. “Instead, we broke out of the move in a corrective manner and the immediate move weakened with record high leverage long positions among us.”
Current Status of Bitcoin
At the time of writing, Bitcoin is trading at $69,708.
“Price movement sustained by sustained upward movements provides simple and impulsive PA (price movement). “Continuous dividend-oriented movements are not impulsive.”
The analyst noted that market dynamics and support levels play an important role in determining BTC’s future movements. Investors are recommended to shape their strategies by taking these critical support levels into consideration.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
