Analyst sets date when Bitcoin could crash to $80,000

A trading analyst has warned that Bitcoin ( BTC ) could lose its $100,000 support and face deeper losses in the coming months if the bearish sentiment continues. In particular, Master Ananda’s analysis indicated that a decisive break below $100,000 could open the door to a drop toward the $88,888 and $82,500 range, he explained in a TradingView post on June 22. According to the analysis, Fibonacci retracement levels on the daily chart suggest that if Bitcoin falls through $100,000, it could quickly slide to around $88,000 at the 0.618 level, and potentially to $80,000 at the 0.786 level, areas where demand has appeared before. Bitcoin price analysis. Source: TradingView The analyst noted that a rapid selloff could follow without buyer support at these levels. Interestingly, this bearish setup depends on whether Bitcoin can hold above $100,000, which it has managed so far. If it does, a strong rebound is still the most likely outcome. The outlook also suggested that a quick drop to $80,000 would probably be short-lived before the uptrend resumes. The next two to three days will be crucial in deciding whether Bitcoin stays supported or faces further losses. If $100,000 fails, a move toward the $80,000 area might be achievable by early October. Bitcoin enters major demand zone Meanwhile, pseudonymous crypto analyst BitBull suggested in an X post on June 22 that the current bearish mood might be a healthy reset for Bitcoin. According to BitBull , Bitcoin is testing a major demand zone between $100,000 and $103,500, where whales have been actively accumulating. Bitcoin price analysis. Source: BitBull He highlighted this price range as a key area of interest, as it is a strong support floor for the cryptocurrency. Despite fears and an “everything is over” narrative in the market, the expert noted that Bitcoin’s long-term outlook remains solid. Technicals show this demand zone has historically been a stronghold, and Bitcoin still looks promising in a broader time frame. Bitcoin price analysis By press time, Bitcoin was trading at $102,284, down 1.5% in the past 24 hours and over 3% on the weekly chart. Moving ahead, bulls need to push the price back to $103,000 to open the door for a retest of $105,000. However, if Bitcoin loses the short-term support at $102,000, a drop below $100,000 looks increasingly plausible. Featured image via Shutterstock The post Analyst sets date when Bitcoin could crash to $80,000 appeared first on Finbold .

Source: Finbold