Analyst sets timeline when Bitcoin will drop below $100,000
Following Bitcoin’s (BTC) sharp drop on Monday, an analyst has pointed to technical indicators suggesting the asset could fall below the crucial $100,000 level. According to TradingShot’s Analysis , the maiden cryptocurrency is testing its 20-week moving average (MA) near $112,500, a level that has historically acted as a launchpad for the final leg of previous bull cycles. Bitcoin price analysis chart. Source: TradingView In the Analysis shared on TradingView on September 22, the analyst noted that based on historical data, whenever Bitcoin closed below the 1W MA20, the price tended to decline further until finding support at the 50-week MA. Currently, the 1W MA50 sits just under $100,000, suggesting that a decisive weekly close beneath the 1W MA20 could trigger a correction to that level within two to three weeks. Based on prior cycles, TradingShot projects this move could materialize within that same timeframe. The broader structure highlights the parab...