Bitcoin again tests the patience of crypto traders. As a popular crypto analyst, Captain Faibik shared a new warning on the current Bitcoin price model. He says Bitcoin is stuck in a model of a single -level corner and thinks that BTC could soon fall below $ 100,000 if the panels take place.
So, a big drop to come?
Bitcoin Whales selling BTC
Recently, the Bitcoin price fell from its level of key support of $ 118,000 and is now negotiated about $ 115,710, down approximately 1.9% for the day. One of the major reasons for this decline is that whales set off the market again.
Meanwhile, Galaxy Digital would have sold 10,000 BTC worth around 1.18 billion dollars and also withdrew $ 370 million USDT from scholarships. This large sale pushed Bitcoin by 3% in just one hour and caused around $ 144 million in liquidations, mainly long positions.
When large holders sell during thin negotiation days, prices can slip quickly.
Key level to watch: $ 113,000
According to Captain Faibik, Bitcoin must remain above $ 113,000 to avoid a greater drop. If it closes below this level, the price could decompose quickly. Many traders look closely at this level, as it shows if the purchasing force is always strong or weakens.
Faibik does not yet rush into trade. He wants to see a clear daily fence below $ 113,000 before making a movement. This shows how careful intelligent merchants are, they are waiting for solid signs instead of guessing what will happen next.
A trap for late buyers?
With the corner, Faibik also sees a downside on the daily graphic. It is only another sign that the market could deceive late buyers. The big players could push the price just enough to trap people who buy late, then slide the price down, sweeping their money.
Even if the volume of daily negotiations increased by 23% to 87.46 billion dollars, this mainly shows that whales take profits and shaking the hands weak. New traders who intervene now could be taken in a trap for new traders who jump too late.
How much could Bitcoin fall?
If Bitcoin breaks under the corner, Faibik thinks that the price could fall into the range from $ 95,000 to $ 98,000. For some, this drop may seem frightening. But for patient traders, it could be a chance to buy bitcoin at a cheaper price before the next movement.
