{"id":667602,"date":"2024-12-28T00:00:33","date_gmt":"2024-12-28T00:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=667602"},"modified":"2024-12-27T11:50:44","modified_gmt":"2024-12-27T11:50:44","slug":"bitcoin-price-crash-95000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-95000\/","title":{"rendered":"Bitcoin Price Retests Support Line After Crash Below $95,000, Here’s The Next Target"},"content":{"rendered":"

The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after <\/span>crashing below $95,000<\/span><\/a>. A crypto analyst has predicted that if it can hold this key support level, it could <\/span>stage a recovery<\/span><\/a> and skyrocket to its next bullish target, aligning with the upper resistance line of the channel.\u00a0<\/span><\/p>\n

Bitcoin Price Retest Support Line; New Target In Sight<\/h2>\n

In a chart illustrating Bitcoin\u2019s price movement within an <\/span>Ascending Channel<\/span><\/a>, Trader Tardigrade, a crypto analyst on X (formerly Twitter), <\/span>revealed<\/span><\/a> that the cryptocurrency has temporarily declined below the lower support line on the channel. The analyst labeled this decline a \u201cFalse Break,\u201d highlighting that the Ascending Channel remains intact despite the drop.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Total Value Locked Reaches Highest Level Since 2022 After Crossing $90 Billion, Will Price Follow?<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

As indicated by the red circle in the price chart, the False Break suggests that Bitcoin\u2019s brief move below the <\/span>support level<\/span><\/a> was short-lived and does not confirm the continuation of its previous downtrend. Trader Tardigrade noted that after Bitcoin\u2019s False break, the cryptocurrency quickly moved back into the Ascending Channel to reclaim the lower support line.\u00a0<\/span><\/p>\n

Interestingly, Bitcoin\u2019s drop below the False break comes as the pioneer cryptocurrency experienced a sharp price crash below $95,000. Lately, the flagship cryptocurrency has been <\/span>under significantly bearish pressure<\/span><\/a>, recording notable declines as market volatility intensifies.\u00a0\u00a0<\/span><\/p>\n

Despite this bearish performance, Trader Tardigrade has disclosed that Bitcoin is now retesting the channel\u2019s support line again, aiming to break above and <\/span>trigger a price reversal<\/span><\/a>. The analyst predicts that if Bitcoin can hold this support line, it will likely continue moving upwards within the channel.\u00a0<\/span><\/p>\n

Consequently, the analyst has forecasted that <\/span>Bitcoin\u2019s next price target<\/span><\/a> would be the upper resistance line of the Ascending Channel. Looking at the price chart, the channel points upwards towards a range between $110,000 and $112,000.\u00a0<\/span><\/p>\n

If Bitcoin can successfully recover toward the upper resistance line, it could signal the <\/span>continuation of a bullish trend<\/span><\/a> within the Ascending Channel. Additionally, a breakout above the resistance line could further validate the bullish momentum, setting up a stage for Bitcoin to potentially target higher price levels and possibly retest its all-time high.\u00a0<\/span><\/p>\n

Related Reading: Here Are The Major Bitcoin Support Levels To Watch As Bulls Push For $100,000 Again<\/a><\/div>\n

Analyst Says Bitcoin Could Crash To $87,000<\/h2>\n

Bitcoin is currently in a downward trend, experiencing <\/span>severe price declines<\/span><\/a> despite analysts’ optimistic projections of a price surge. According to crypto analyst Titan of Crypto, the Bitcoin price <\/span>could see another decline<\/span><\/a>, with the support level at $87,000 being the next target.\u00a0<\/span><\/p>\n

However, according to the analyst, a drop to this price low could bring \u201cmaximum pain\u201d to both short\u2014and long-term investors. Nevertheless, Titan of Crypto <\/span>believes<\/span><\/a> this severe price decline could also present a strong foundation for Bitcoin\u2019s next price rally.\u00a0<\/span><\/p>\n

He emphasized that price movements are rarely linear, highlighting the crypto market’s inherent unpredictability and volatility. Despite <\/span>Bitcoin\u2019s bearish behavior<\/span><\/a>, Titan of Crypto confidently predicts that a price rally to $110,000 is inevitable.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price reclaims $96,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after crashing below $95,000. A crypto analyst has predicted that if it can hold this key support level, it could stage a recovery and skyrocket to its next bullish target, aligning with the upper resistance line of the channel.\u00a0 Bitcoin Price Retest Support Line; New Target In Sight In a chart illustrating Bitcoin\u2019s price movement within an Ascending Channel, Trader Tardigrade, a crypto analyst on X (formerly Twitter), revealed that the cryptocurrency has temporarily declined below the lower support line on the channel. The analyst labeled this decline a \u201cFalse Break,\u201d highlighting that the Ascending Channel remains intact despite the drop.\u00a0 Related Reading: Ethereum Total Value Locked Reaches Highest Level Since 2022 After Crossing $90 Billion, Will Price Follow? As indicated by the red circle in the price chart, the False Break suggests that Bitcoin\u2019s brief move below the support level was short-lived and does not confirm the continuation of its previous downtrend. Trader Tardigrade noted that after Bitcoin\u2019s False break, the cryptocurrency quickly moved back into the Ascending Channel to reclaim the lower support line.\u00a0 Interestingly, Bitcoin\u2019s drop below the False break comes as the pioneer cryptocurrency experienced a sharp price crash below $95,000. Lately, the flagship cryptocurrency has been under significantly bearish pressure, recording notable declines as market volatility intensifies.\u00a0\u00a0 Despite this bearish performance, Trader Tardigrade has disclosed that Bitcoin is now retesting the channel\u2019s support line again, aiming to break above and trigger a price reversal. The analyst predicts that if Bitcoin can hold this support line, it will likely continue moving upwards within the channel.\u00a0 Consequently, the analyst has forecasted that Bitcoin\u2019s next price target would be the upper resistance line of the Ascending Channel. Looking at the price chart, the channel points upwards towards a range between $110,000 and $112,000.\u00a0 If Bitcoin can successfully recover toward the upper resistance line, it could signal the continuation of a bullish trend within the Ascending Channel. Additionally, a breakout above the resistance line could further validate the bullish momentum, setting up a stage for Bitcoin to potentially target higher price levels and possibly retest its all-time high.\u00a0 Related Reading: Here Are The Major Bitcoin Support Levels To Watch As Bulls Push For $100,000 Again Analyst Says Bitcoin Could Crash To $87,000 Bitcoin is currently in a downward trend, experiencing severe price declines despite analysts’ optimistic projections of a price surge. According to crypto analyst Titan of Crypto, the Bitcoin price could see another decline, with the support level at $87,000 being the next target.\u00a0 However, according to the analyst, a drop to this price low could bring \u201cmaximum pain\u201d to both short\u2014and long-term investors. Nevertheless, Titan of Crypto believes this severe price decline could also present a strong foundation for Bitcoin\u2019s next price rally.\u00a0 He emphasized that price movements are rarely linear, highlighting the crypto market’s inherent unpredictability and volatility. Despite Bitcoin\u2019s bearish behavior, Titan of Crypto confidently predicts that a price rally to $110,000 is inevitable.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":653217,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-667602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\nBitcoin Price Retests Support Line After Crash Below $95,000, Here's The Next Target<\/title>\n<meta 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Retests Support Line After Crash Below $95,000, Here’s The Next Target","url":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-95000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin\/bitcoin-price-crash-95000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-Holds-Support.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-Holds-Support.jpg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analyst","bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto analyst","crypto news"],"dateCreated":"2024-12-28T00:00:33Z","datePublished":"2024-12-28T00:00:33Z","dateModified":"2024-12-28T00:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Retests Support Line After Crash Below $95,000, Here’s The Next Target\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-price-crash-95000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin\\\/bitcoin-price-crash-95000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Bitcoin-Holds-Support.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/11\\\/Bitcoin-Holds-Support.jpg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analyst\",\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto analyst\",\"crypto news\"],\"dateCreated\":\"2024-12-28T00:00:33Z\",\"datePublished\":\"2024-12-28T00:00:33Z\",\"dateModified\":\"2024-12-28T00:00:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/11\/Bitcoin-Holds-Support.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/667602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=667602"}],"version-history":[{"count":1,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/667602\/revisions"}],"predecessor-version":[{"id":667696,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/667602\/revisions\/667696"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/653217"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=667602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=667602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=667602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}