Altcoin season does not come? Bitcoin risks a collapse to $ 9,200 with negative feelings star-news.press/wp

The encryption analyst issued a Strong Warning for Bitcoin (BTC)Predicting a potential collapse to its lowest levels and escalating negative feelings. The analyst also highlighted the possibility of more Altcoin season delayed The broader market also turns down.

The analyst calls for 98200 dollars the collapse of the bitcoin price

With bitcoin price The unification of more than $ 100,000 is still After suffering great losses last month, fears were escalating about the leading expectations in the coded currency in the short term. Dr. Cat, Crypto analyst on the social media platform x, Expected The collapse of $ 9,200 is increasingly increasing for Bitcoin, especially with Negative feelings accumulate.

The level of $ 98200 was highlighted as a decisive support level, which, if breached, can lead to stronger The negative risks of Bitcoin. Based on the main Ichimoku indicators like Kijun Sen for 3 weeks and weekly SSB, you can see these Bitcoin descending capabilities You collide with a group of $ 70,000The analyst describes it as “handle 7”.

It is worth noting that Dr. Cat chart, which features Ichimoku cloud patterns, shows a slightly higher bitcoin trading higher than the price of prices that hover over Kijun Sen and the proximity circle to the cloud. Despite the identification of moderate upholstery, it stresses that the daily time frames and the decidations remain structurally declining, Reducing power From any upward momentum.

By adding a weight to this pessimistic scenario, the analyst notes that while the bullish trend in the short term of Bitcoin is still on the cards, it is not guaranteed. The alternative wave enumeration also indicates that the local summit may be already present, indicating early stages of more Correcting a severe price.

Dr. Kat also compares the current market conditions of Bitcoin to April 2024, when a similar setting has led to a noticeable collapse. As such, even if BTC pushes a little top in the short term, the wider direction, according to the analyst, indicates a reflection waving on the horizon.

Altcoin season is at risk among the broader market weakness

In addition to Dr. Kat’s bitcoin expectations, its analysis also extends a blatant warning to Altcoin Holders about As long as long waiting. According to the market expert, many Altcoins are close to the main resistance levels against Bitcoin, which reflects the preparation last week, which led to a significant decrease.

Although the simple recovery against BTC is not excluded, the broader market structure is alluded to a harsh environment for Altcoins in the next 1-2 weeks. The Future Kijun Sen Angle also indicates a weekly Bitco Dommership (BTC.D) The leading cryptocurrency may outperform Altcoins Decally. However, this outstanding performance is not expected to result from the BTC strength, but rather a relatively slower decrease as the market turns into a decline.

In such a case, Altcoins can see accelerated losses While BTC has seen a more controlled correction. This market dynamics indicates that the real Altcoin season is unlikely to appear any time soon.

Distinctive image from Istock, Chart from TradingView.com

Editing process For Bitcoinist, it is focused on providing accurate, accurate and non -biased content. We support strict resource standards, and each page is subject to a diligent review by our team of senior technology experts and experienced editors. This process guarantees the integrity of our content, importance and value of our readers.