Bitcoin after US market open 
$87,270.31 It suddenly jumped to 90 thousand dollars and erased its gains in about 1 hour. The rapid rise and fall caused $237 million in liquidations in the last 4 hours. This figure is almost 70% of the liquidation experienced throughout the day. So what are the analysts’ current predictions?
Bitcoin Ripple
We mentioned 1 hour ago that the price experienced a sudden rise for liquidation purposes without any news flow support. Tomorrow’s inflation report and Friday’s interest rate decision It was clear that this was a risky rise, and BTC returned to where it started in less than 1 hour, showing everyone that the last move was not a rally but a trap.
Poppe before this trap of BTC He wrote that it remained in a downward trend, and it was worrying that someone who expected a constant rise was talking about this. The analyst, who said that he will not be convinced of the upward momentum without seeing a clear break above $ 88 thousand, expects the levels of $ 83 thousand and $ 80 thousand to be tested. Analysts, who have been repeating the risks we mentioned last week, are now convinced of the bottom tests.
Analyst Predictions
When weekly RSI and MACD give bearish signals BTC It was over $120k and Roman Trading was sharing bearish warnings, which we see proved to be true today. However, Lark Davis now warns that the opposite could happen at this stage.
“Bitcoin weekly RSI is at the most oversold level in recent times:
– End of the 2018-2019 bear market
– COVID crash in March
– End of the 2022 bear market
I’m not saying the bottom is approaching. Absolutely not.
We could always go down another 40%, you never know. When BTC was this oversold in 2018, it fell another 49%. In 2022, it dropped by another 58%. “These lows can take much longer than you think and can bring more pain than you think.”
The chart shared above by CryptoBullet says that we may see a new upward attempt extending to 108 thousand dollars with ongoing closings above 85 thousand dollars. Then we can see the real cycle bottom.
Since Efloud predicted a fake rise in the short term, he considered this as a selling opportunity and moved it to the entry zone of the stop price. Possible short-term bounces around $85,390 can be evaluated. However, the news flow for the next 2 daysi cryptocurrencies Since it is against him, these attempts may also fail.
