A crypto analyst has disclosed reasons why the price of Bitcoin could witness more declines to $52,000 lows. According to the analyst, Bitcoin has broken key support levels, which indicates a potential shift from a bullish to a bearish position. Analyst Projects Bitcoin Crash To $52,000 In a post on X (formerly Twitter) on June 21, crypto analyst, Justin Bennett predicted that Bitcoin could witness a price crash to key ranges between $52,000 and $54,000. He shared a price chart illustrating Bitcoin’s recent decline, highlighting that its price remains range-bound, showing no clear downward or upward trend as it trades between support and resistance. Related Reading: XRP Exhibiting Unusual On-Chain Behavior, How Will This Affect Price? While Bennett believes that Bitcoin could plummet to $52,000, the analyst cited several reasons for this bearish outlook. He revealed that Bitcoin has broken past a key trend line from October 2023, suggesting a shift to more bearish territory. Additionally, the analyst noted market imbalances between February 26 and 27, indicating the possibility of less accumulation and more selling pressure for Bitcoin. Bennett also highlighted the presence of si ..
Support the originator by clicking the read the rest link below.
