The Last Castle That Will Keep Bitcoin Price: Analyst Said It Will Fall Here If Lost! - Coin Bulletin

Bitcoin (BTC) price is trading at $96,000 level, while an analyst mentioned that it could drop to $85,000 if critical support levels are not maintained.

Famous crypto analyst Pentoshi stated in his social media post on February 22 that if Bitcoin returns to the $106,000 resistance level, it could enter a new price discovery phase. However, the analyst noted that if BTC loses the support zone between $92,000-94,000, the next significant support level could be around $85,000.

Bitcoin last traded at this level on November 12th.

Cautious optimism from Pentoshi

Pentoshi, showing a cautious optimism regarding current price movements, said, "We should stay in a bullish market trend for now because there hasn't been a downward breakout yet, and we've spent quite a long time in this range." The analyst's comment, reflecting the overall sentiment of the market, recommended investors to be careful but hopeful.

However, some market experts argued that the $85,000 level is an optimistic local bottom and Bitcoin could experience further decline before gaining momentum. In particular, the attention drawn to the $85,000 level by other analysts in recent weeks indicates that this level could be an important test for the market.