Although bitcoin rebounded from the dip below $80,000 and now sits two grand higher, the risk of another deep correction has not been completely eliminated.<\/p>\n
Analysts are watching the $84,000 resistance as the immediate recovery level, while one longer-term scenario envisions the cryptocurrency plummeting to $68,000 first before going after its 2025 all-time high.<\/p>\n
Daan Crypto Trade argued<\/a> that BTC managed to sweep liquidity while still saving its daily close. He described the recent move as a good example of why waiting for candle closes actually matters. However, he warned that the recovery now needs to continue, which it hasn\u2019t.<\/p>\n The analyst said BTC must reclaim at least $84,000 in the coming trading days, as remaining and consolidating below it could leave the asset vulnerable to another gradual move south. A successful recovery above $84,000, though, would instead put the untapped highs around $87,000-$88,000 back in focus.<\/p>\n This aligns with BTC\u2019s recent price moves, as the asset has repeatedly struggled<\/a> around the $84,000 area after tumbling toward $80,000. Weakening buyer pressure has intensified uncertainty around the recovery attempt, and the macro landscape dealt another blow earlier this week with a higher-than-expected<\/a> September CPI reading.<\/p>\n Meanwhile, fellow analyst EGRAG CRYPTO noted<\/a> that investors should not necessarily interpret another substantial correction as the end of the bull market. Using a 2023 fractal, he added that BTC previously experienced a 22% pullback before its next major expansion wave. Applying similar math to the current numbers would mean a drop to $68,000.<\/p>\n EGRAG identified $84,800 as the 0.5 Fibonacci \u201cbattlefield\u201d and $68,000 as a possible shakeout zone before a potential move toward $114,000-$125,000, provided the broader structure remains intact.<\/p>\n CryptoGoos offered<\/a> a different way of assessing the current market structure through BTC\u2019s supply in profit. His strategy is to accumulate when the percentage falls toward what he considers a historically important support line, before gradually taking profits once the metric exceeds 80%.<\/p>\n The analyst expects multiple local tops during the current cycle rather than one clean vertical move. Other recent BTC indicators have also painted a mixed picture. For instance, bitcoin has remained above its 50-week moving average for several consecutive weeks, which some analysts view as evidence<\/a> that the broader recovery is intact.<\/p>\n However, it has repeatedly failed to break through the $86,000-$89,000 resistance region, while more than $1 billion in profits were recently realized<\/a> after it last climbed above $87,000.<\/p>\n The post Bitcoin\u2019s Road to $125K Could Include a Brutal Drop to $68K: Analyst<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Although bitcoin rebounded from the dip below $80,000 and now sits two grand higher, the risk of another deep correction has not been completely eliminated. Analysts are watching the $84,000 resistance as the immediate recovery level, while one longer-term scenario envisions the cryptocurrency plummeting to $68,000 first before going after its 2025 all-time high. $68K […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-240641","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/240641"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=240641"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/240641\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=240641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=240641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=240641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Buying Opportunity?<\/h2>\n