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| Bitcoin Price Prediction |
Bitcoin Price Prediction: Could BTC Bears Plunge 30%? Bitcoin price is showing clear signs of exhaustion after its recent 4% drop. A slight reset to retest the circuit breaker can result in a 30 percent BTCfailure. A daily candle close above $30,540 will refute the bearish argument. bitcoin price is preparing for a sharp decline Bitcoin price has established a bearish breakout on the four-hour chart.As discussed earlier, this setup features two higher highs that give the illusion of an uptrendand invite more bulls to join. However, as the price falls and makes lower and lower lows, these early traders are now trapped and looking for a way out. As the asset price pulls back and retests the recent downtrend amid higher highs, it is under intense selling pressure. This new test could be a good entry point for the bears. Bitcoin's price has a bearish breaker at $30,539-$30,244, so a retest of the floor could be a good spot to sell BTC.But investors may decide to sell their shares at the psychological $30,000 level first. While Bitcoin's price is looking bleak, a quick move above the psychological $30,000 level will be the first sign of bearish weakness. If this move continues to propel BTC higher and result in a daily close above $30,540, it will invalidate the bears' argument. Confirmation of the bullish outlook will come as bitcoin price makes a high and marks another critical hurdle at $32,661.
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