Bitcoin Price Volatility Expected to Increase as $90,000 Support Erodes
Bitcoin (BTC) has been experiencing a period of low volatility, with its price hovering around the $90,000 level. However, analysts predict that this stability is unlikely to last, with a major move expected in the near future. The weekly close has seen the erosion of the $90,000 support, leading to predictions of increased price volatility.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Breakout Move Expected
Trader analyst Aksel Kibar has noted that the current low volatility setup is likely to lead to a directional move. He has presented two potential scenarios: a breakdown from the current bear flag formation on the daily chart, which could result in a drop towards the $73,700-$76,500 area, or a run at $95,000. Kibar’s analysis is based on the idea that the current trading range is unsustainable and that a major move is imminent.
BTC/USD one-day chart. Source: Aksel Kibar/X
Analysts Predict Potential $50,000 Price Target
On-chain analytics platform CryptoQuant has warned that the Bitcoin bear market is already underway. Contributor Pelin Ay has noted that the combination of downward-sloping simple moving averages (SMAs) and price trading below key trendlines suggests that the structure remains bearish. Ay predicts that a deeper bear market phase, potentially towards the $50,000 region, is likely before the next major upward move.
BTC/USDT, ETH/USDT charts with SMAs (screenshot). Source: CryptoQuant
Market Sentiment and Predictions
Other analysts, such as Crypto Tony, have also noted that the $90,000 level is a crucial support area. Tony has advised traders to “trade the breakout only” and has identified the $90,600 and $89,800 range as key levels to watch. The market sentiment is currently bearish, with many analysts predicting a potential drop to the $50,000 level.
BTC/USDT perpetual contract one-hour chart. Source: Crypto Tony/X
For more information, please visit the original source: https://cointelegraph.com/news/bitcoin-extreme-low-volatility-end-new-50k-btc-price-target?utm_source=rss_feed&utm_medium=rss_tag_bitcoin&utm_campaign=rss_partner_inbound
