Bitcoin (BTC) on the decline, a buying opportunity for investors?

Jakarta, Pintu News – Bitcoin (BTC) has recently experienced a price drop after peaking at $95,348. Currently, Bitcoin price is below $94,000 and is expected to test the support zone at $91,200. This drop may be an opportunity for investors to consider their next strategy.

Bitcoin Price Correction: What Happened?

Bitcoin (BTC) managed to maintain stability above $90,000 and briefly rose past some resistance levels. However, after reaching a new high of $95,348, Bitcoin experienced a correction and dropped below the $94,000 level. Currently, Bitcoin is trading below the 100-hour simple moving average and faces resistance at $94,000.

This drop marks a consolidation phase below the 23.6% Fibonacci retracement level of the move down from $95,348 to $92,900. If Bitcoin is unable to break the resistance at $94,000, there is a possibility that the price will continue to fall towards the support at $92,800.

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Bitcoin Price Recovery Potential

If Bitcoin (BTC) manages to break the resistance at $94,000, there is potential for further upside. The next resistance lies at $94,150, which is also the 50% Fibonacci retracement level of the last drop. A break above this level could push the price towards $94,500.

Further gains will probably test resistance at $95,500. This price recovery will depend on various factors, including market sentiment and global dynamics affecting the cryptocurrency market. Investors and traders should monitor technical indicators such as MACD and RSI which are currently showing bearish momentum.

Risk of Further Decline

If Bitcoin (BTC) fails to break the current resistance area, the price could continue to fall. Immediate support is at $92,800, followed by major support at $92,000. A drop below these levels could take Bitcoin to the $91,500 zone.

Losing this support could trigger a further decline towards $90,500, with the next critical support at $90,000. Investors should be wary of this potential decline and may need to adjust their strategies in anticipation of greater price fluctuations.

Conclusion: The Right Time for a New Strategy?

With the current Bitcoin (BTC) price volatility, investors may need to consider their strategy. Is it the right time to buy at the low point, or should they wait until the market shows signs of a more stable recovery? This decision should be based on in-depth analysis and understanding of the cryptocurrency market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Sees Dip to $92K. Accessed on April 28, 2025
• Featured Image: Generated by AI