How low can the Bitcoin price go? – TradingView News

Bitcoin Btcusd The price has decreased by more than 6.5% in the last two days after collecting $ 88,000 at the beginning of the week.

Data from CoinTelegraph Markets Pro and TradingView show that the price for Bitcoin on March 29 of March 29 from a high of $ 87,500 to an intra-day low of $ 81,900 has dropped.

Bitcoin’s price drop corresponds to a market -wide distance, which is heated by uncertainties about Trump’s trade tariffs and poor economic data. The following sale in shares asked the market participants how much deeper the drawdown can go.

Bitcoin deletes the liquidity in the fall to 81,000 US dollars

BTC on March 29 continued the losses, which has decreased by 3% in the past 24 hours to act by just over 82,000 US dollars.

Key points:

• BTC Price fell to 81,983 US dollars at Bitstamp and deleted all profits from the beginning of this week.

• This happened when the US inflation data came hotter than expected.

• The index reading for personal consumption expenditure (February US staff consumption expenditure) showed an inflation restriction -in contrast to January printing.

• While the market expectations between month and month and in the previous year met the market expectations of 0.3% or 2.5%, their core PCE equivalents were both 0.1% higher than expected.

• The implementation of broad US tariffs in the next Woche and the so-called day of liberation on April 2nd also increases the concerns of investors in the markets.

• The 24-hour crypto market liquidations achieved $ 338 million per data from monitoring resource coating.

• Bitcoin deleted more than 165 million US dollars in long positions between March 28 and March 29.

• Additional data from CoingGlass showed intensive buyer interests within the six-month period within the range of $ 70,000 to $ 80,000.

• This indicates that the price of Bitcoin may continue to decrease in order to sweep liquidity within this area before they carry out a persistent recovery.

In the short term, Bitcoin seems to have removed “a lot of liquidity”, with a local soil in the range of $ 82,000 and 80,000 US dollars lying lizards according to analyst Stockmoney.

In view of the large short liquidation levels over 88,000 US dollars, the analyst said that Bitcoin could experience a classic weekend correction with a possible reversal next week.

“Typical weekend waste with the reversal of the next week? At least this is a possible scenario.”

Bitcoin Bear Flags references to 62,000 US dollars

From a technical point of view, BTC’s price decline on March 29 is part of its prevailing bear flag pattern.

Key points:

• A bear flag indicates a continuation of the bear impulse, with the sellers taking control.

• A temporary consolidation (flag) formed near 88,000 US dollars, which indicates a failed breakout attempt.

• Bitcoin broke under the most important support levels, including the lower border of the flag at $ 85,800 in 200-day-free sliding average (SMA).

• This was confirmed by the bear flag creation and pointed out further losses.

• The measured movement goal from the pattern indicates a potential decline compared to $ 62,000, which corresponds to a decrease of 25% compared to the current level.

• The relative strength index remains below the middle line and reinforces the bear impulse.

The founder of MN Capital, Michael van de Poppe, argued that Bitcoin probably a little more dynamic down in downwards because the trend remains lower. He adds that the price could test the deep stalls at 76,600 US dollars “before which”.