Bitcoin At Risk? Analyst Says Breaking This Price Level Could Spark Significant Volatility
The post Bitcoin At Risk? Analyst Says Breaking This Price Level Could Spark Significant Volatility appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. Bitcoin (BTC) has faced heightened volatility in recent weeks, initially driven by Donald Trump’s proposed trade tariffs and later exacerbated by the latest Consumer Price Index (CPI) data. The inflation report sent BTC plummeting to as low as $94,000 before it managed to recover some losses. However, according to crypto analyst Ali Martinez, Bitcoin must defend a critical price level to avoid a significant correction. Analyst Identifies Critical Bitcoin Price Level In an X post shared earlier today, Martinez brought attention to the Pi Cycle Top Indicator. For the uninitiated, the Pi Cycle Top Indicator is a Bitcoin market tool that aims to identify market cycle peaks. Related Reading The indicator tracks the 111-day moving average (MA) and a multiple – typically 2x – of the 350-day moving average. When the 111-day MA crosses above the 2x 350-day MA, it historically signals a market top. According to Martinez, Bitcoin tends to experience steep price corrections when it drops below the 111-day MA. Currently, this moving average stands at approximately $93,400. If BTC falls below this level, it could trigger a major downside move. Source: Ali_charts on X Fellow crypto analyst Merlijn The Trader shared their thoughts on the current BTC price action. The analyst shared the following chart which shows the similarity between BTC price action in 2021 and 2025. Source: Merlijn The Trader on X According to the chart, BTC is currently in the midst of completing a bullish diamond pattern. A successful completion of this pattern followed by a bullish breakout may propel BTC to new all-time highs (ATH) beyond $120,000. Where Is BTC Headed Next? Crypto investor Daan Crypto Trades also analyzed Bitcoin’s latest price movement, particularly in response to the CPI data. The report confirmed that inflation remains hot…
Filed under: News - @ February 14, 2025 7:17 am