Bitcoin (BTC) Forecast from Analyst: “If This Level Is Broken, The Fall Could Deepen!”

While the crisis directly caused by the recent collapse of crypto exchange FTX continues to shake the crypto money industry, analysts say that it is the largest digital asset. Bitcoin (BTC) It tries to identify recovery or ongoing decline conditions by looking at the effects on

“If Bitcoin Breaks This Level, The Fall May Continue”

According to one of these analyzes, the pseudonymous analyst known as Mustache claimed that Bitcoin should hold at around $15,800, otherwise a drop to $13,000 would be possible.

In his post on Twitter, the analyst said:

“Bitcoin should hold around $15,800. Otherwise, we will see the collapse continue.

If the bearish triangle is broken to the downside, we will most likely see BTC in the $13,000 range.”

Let me be clear: #Bitcoin must hold the level around ~$15,800 Dollar. Otherwise, we’ll see a continuation of the crash.

If the bearish triangle breaks out to the downside, we will most likely see $BTC back in the $13,000 Dollar range. pic.twitter.com/8Y8te0EJEW

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) November 14, 2022

In a separate tweet, Mustache also revealed that Bitcoin is still below the 0.75 line on the Mayer Multiple indicator, warning that it “does not look very good for BTC” the three previous times it was rejected from this line.

However, crypto trading expert Michaël van de Poppe observed that the markets are consolidating and that BTC is trading better than he ever thought:

“After the terrible news we received in the past weeks, we could actually assume that we would be in the $10,000 level.”

The current decline of the world’s largest cryptocurrency came after the FTX exchange went bankrupt.

*Not investment advice.