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- 📣 #GT# Continues to Break New Highs!
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Experienced Analyst Shares Critical Level in Bitcoin Price: "If It Falls Below This Level, Free Fall Can Occur"
Cryptocurrency analyst Ali Martinez evaluated the current state of Bitcoin in his recent statements.
According to Martinez, Bitcoin price should not fall below 92,730 dollars, if a decline below this level occurs, a free fall could begin for the BTC price.
However, the analyst also explained the conditions for invalidating this bearish thesis. According to the analyst, if sustainable closures above $97,300 and, more critically, a daily closure above $100,000 occur, the bear scenario may be put aside.
At the time of writing this article, the BTC price is trading at $94,379.
Nevertheless, the analyst continues to have bullish views. Martinez argued in his post that a 20% to 30% drop in BTC price is one of the most bullish events that could happen to Bitcoin.
In addition, the analyst, who also touches on the altcoin world, thinks that the price of Chainlink (LINK) could drop to $14 if the Head and Shoulders formation is confirmed. At the time of writing this article, the LINK price is trading at $21.92.