Bitcoin Price Recovery At Stake If This Level Doesn’t Hold, Crash Could Erase Gains

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Bitcoin Price Recovery At Stake If This Level Doesn’t Hold, Crash Could Erase Gains - NewsBTC

Quick Summary:

Failure to hold this support level could cause the leading crypto to crash and erase all gains that it has enjoyed this past week. Bitcoin Price Needs To Hold Above $93,500 To Avoid Another Crash In an X post, Rekt Capital indicated that the Bitcoin price needs to hold above $93,500 to avoid another crash.

His accompanying chart showed that the leading crypto could break above $100,000 again on this next leg up. Related Reading: Bitcoin Price Bullish Confirmation: What Needs To Happen For Next Leg Up To $130,000 However, if the Bitcoin price doesn’t record another leg to the upside and instead corrects below $89,000 first, CrediBULL stated that BTC then ends up with a 3-legged corrective structure.

However, as Rekt Capital suggested, BTC now needs to hold above $93,500 to confirm this breakout and avoid this being another bull trap. The Bitcoin price is likely to reclaim the $100,000 mark and even reach new highs if it can hold above this crucial support level.