One cryptocurrency analyst is urging traders and investors to keep a close eye on the matter Bearing order block (OB) Level on Bitcoin (BTC) price chart. According to the expert, this OB level is located within a critical zone near $90,000, which could determine the next trend move for BTC, with the cryptocurrency continuing its upward trend or seeing a sharp rise. Rejection towards lower levels. With Bitcoin currently trading around $77,000, a positive reaction to this OB level could open the door to a new price rally.
Bitcoin’s bearish OB level signals make or break
TradingView’s cryptocurrency analyst known as “Fullpriceaction.” subscriber A new analysis of Bitcoin predicts bearish and bullish price forecasts depending on how the leading cryptocurrency reacts to the critical level. The analyst described this area as the “bearish OB level”, a price area where… Large institutional actors Like hedge funds, market makers and banks, they place large sell orders before the big price decline.
Related reading
Fullpriceaction noted that Bitcoin’s bearish OB level is currently between the $94,000 and $98,000 range. At the time of writing, this order block level is well above BTC’s current price, meaning the cryptocurrency will need another rally of over 27% to reach this level.
The analyst predicted that a rejection from this bearish OB zone could lead to a significant pullback in Bitcoin’s price, which is already weighed down by a widespread spread. Volatility and fear in the market. On the upside, Fullpriceaction predicts that a clear breakout above the critical level could completely negate BTC’s bearish structure, which could pave the way for a Fresh bull racing.
With these potential moves on the horizon, the cryptocurrency expert urges investors and traders to manage their risks carefully. He pointed out that the price of Bitcoin has reached Severe bear market Since January highs near $98,000.
The leading cryptocurrency has been milled through Slow and prolonged consolidation phasewith its price largely trading between $64,000 and $76,000. Despite downward pressure restricting price action, Fullpriceaction noted that Bitcoin was steadily building a solid base that eventually led to a breakout and rally. Strong bullish wave in April.
The analyst expects BTC to collapse to $70,000 in days
In a separate analysis from X, cryptocurrency market expert Alex Mason anticipation That the price of Bitcoin could collapse to $70,000 within a few days. After this decline, the analyst expects the leading cryptocurrency to continue its downward trajectory. He expects a drop from its current price of about $77,000 to $73,000, then to $68,000 and $71,000, before eventually falling toward $60,000.
Related reading
Looking to the future, Mason coined Bitcoin The ultimate market bottom Somewhere in the fall of 2026, between September and December. His chart puts this minimum price at around $30,000, which represents a staggering decline of more than 61% from current levels.
Featured image from Getty Images, chart from Tradingview.com
