Several analysts point out that Bitcoin price will soon move lower to reach about $85,000. Crypto expert Hamed_AZ provides both optimistic and negative views about Bitcoin but believes the market will slide further in value.
Hamed_AZ reports Bitcoin is stuck in market indecision since it cannot surpass vital support barriers. Bitcoin prices crashed below $100,000 because of general market uncertainty and changing investor mindset at the start of this month. International trade tariffs from America create a downward force on cryptocurrency values.
Bitcoin Needs Support For Growth
According to Hamed_AZ the market will stay in a downward trajectory until Bitcoin breaks past its important resistance barriers. The analyst sees Bitcoin moving downward because it stays inside a falling price range yet detects possible buying opportunities between $85,000 and $87,500.
Fibonacci 0.382 support aligns with the established price range because traders may restore the market at this threshold. Based on BTC market history the analyst predicts that downtrends do not usually last long. The latest market situation requires BTC prices to fall more before traders can start buying again.
When BTC stays above this support area as a base it reduces selling pressure and creates grounds for upcoming price gains. Despite outlining both scenarios Hamed_AZ placed a special focus on potential losses reaching $85,000. BTC will restart its upward direction if it crosses these resistance levels starting at $97,000 and ending at $102,500 while maintaining trading above them.
When the markets reach resistance levels of $97,000 to $102,500 soon BTC will surpass its all-time high of $100,000 set earlier this year and rise towards $120,000. Market participants are watching important BTC price points to discover the next market direction because trading opinions stay divided.
The future direction of this cryptocurrency remains unclear since it could either challenge the support zone or bounce back. Volatility will stay active during the upcoming period.
