Bitcoin (BTC) 
$96,489 experienced a drop to $95,000 today, where it has lingered for hours. Attempts for upward movement have failed. The losses are more significant for altcoin holders today. Experienced traders recognize that continuous rises are not guaranteed. What do the current predictions indicate?
Bitcoin (BTC)
In the last 24 hours, liquidations totaled $279 million, with $221 million from long positions. Liquidations increased by 13% compared to the previous day, while open positions remained at $115 billion, only dropping by 0.88%. Noteworthy liquidations were observed in altcoins like UXLINK and MOVE.
While BTC is hovering around $96,500 at the time of writing, it struggled to maintain this level after several attempts. As the US markets are set to open before the week ends, it is likely for BTC to retest six-figure levels, raising the possibility of increased volatility.
An analyst using the pseudonym Contra shared the above chart, stating earlier: “I’m not very interested in trading during this breakdown period. The key level for continuing the rise to $100,000 has yet to be reclaimed. It becomes interesting below $90,000, which means a 20% correction from the highs. It looks risky in the short term, but my bullish expectation persists in the medium to long term.”
If a larger decline occurs before the year ends, BTC could drop to the $86,000 range.
Solana (SOL) and Ethereum (ETH)
SOL Coin is stagnating at $190, while ETH trades below $3,400. The ease of losing hard-earned key levels has tested the patience of investors who have awaited a turnaround for over two years. At the time of writing, Altcoin Sherpa shared the following chart:
“I would love to see SOL stabilize and form a bottom here. The time has not yet come for SOL Coin. It’s not a good urgent buy; I wouldn’t really push it.”
The analyst warns about the risk of testing levels around $170, suggesting that patience for buying might be wise.
We shared the above chart today, indicating that the symmetrical triangle has broken downward. Unless a surprising recovery occurs, the ETH price could fall to $2,920, which is Carl’s target. Of course, technical analysis does not predict the future.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
