So far, the $108,000 level has acted as a support, preventing further decline. However, with sellers still being in charge of the market, it is possible that this level does not hold for long. Looking at the broader picture, the crypto analyst calls for further price decline, and this could trigger a cascading effect.
Naturally, the next retest of the trendline in this case would mean that it is hitting support. But there is also the fact that momentum doesn’t point to a possible Bitcoin price recovery. Even after hitting $93,000, the analyst expects a further breakdown and a move to as low as $70,000.
