Analyst and trader Justin Bennett believes that Bitcoin (BTC) has further room to fall after the crypto king has been switched off.
Bennett tells Are 115,400 followers on the social media platform X that Bitcoin has a “confirmed break” after supporting a support level at around $ 106,000.
According to Bennett, Bitcoin could fall to around 13% from the current level to a price of around $ 91,790 If BTC support levels lose support that are around $ 100,730 and then $ 97,762.
“Those close goals are in the game, as long as $ 106,000 is considered new resistance to the daily period.”
The analyst and the trader out That Bitcoin, as well as Ethereum (ETH), could become bearish as USDT -Dominance, the percentage of the market capitalization of USDT compared to the total crypto market capitalization, rises.
“This is the same Dominance Outlook as eight days ago, and now we have a confirmed outbreak.
There are no guarantees, but you have to respect what is on the graph, not what you hope will happen.
If it applies, BTC and ETH retire. Keep it simple. “
Turn to Ethereum, Bennett out The second largest crypto-asset of Market Cap leans Beararish after breaking under a rising trendline on the four-hour graph.
“A bit speculative at the moment, but I would be willing to bet that ETH is breaking this trend line $ 2,460 and $ 2,360.
The fake -out above today’s reach gives Ethereum a bearish tilt. That said, he could chop markets while some of these supports hold. “
Bitcoin acts at $ 105,365 at the time of writing, while Ethereum trades at $ 2,605.
Follow us on X” Facebook And Telegram
Don’t miss a beat – Subscribe to get e -mail notifications directly to your inbox
Check price promotion
Surf the Daily Hodl -Mix
Featured image: Shutterstock/Xoser/Chuenmanuse