Bitcoin’s price to crash by another 4%? BTC Predictions say…

noted swift losses in the past 24 hours. In particular, a 4.9% drop occurred within an hour on the 2nd of April and witnessed millions of dollars in liquidations.AMBCrypto reportedOn the 12-hour chart, the market structure was still bullish. A fall below $60.7k will flip the structure bearishly. The Fibonacci retracement levels highlighted the $55.5k and $59.4k as critical levels.The OBV trended downward in March and was still below a key level.

The $64.5k level is a level of interest this week, as it is a short-term support level. Yet, technical indicators and the lower timeframe price action showed Bitcoin might not trend upward strongly for some time.Prices could bounce higher to liquidate the late, high-leveraged bears, but a significant pocket of liquidity was at $64k.

From $62.8k to $64k, there was a decent concentration of liquidation levels. Bitcoin’s proximity to this region indicated that it could sweep this zone next. Hence, traders should be prepared for more losses. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Akashnath is a Chemical Engineering graduate deeply fascinated by Technical Analysis and the crypto markets and enjoys studying price movements and trying to find patterns.Subscribe to get it daily in your inbox.

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