While the debt limit crisis continues in the USA, Bitcoin fell to $ 26,080 before the statements of the US Treasury Secretary Janet Yellen about the debt limit talks.
While this decline in Bitcoin is also felt in altcoins, BTC continues to show weakness.
Now, as investors wonder whether the decline in Bitcoin and altcoins will continue, Bitcoin analysis came from analysts Ali Martinez and Michael van de Poppe, who are closely followed by investors.
Stating that lower levels can be tested in Bitcoin, closely followed analyst Michael van de Poppe argued that $ 26,000 can be broken in BTC.
Pointing out that it would be risky to invest in BTC already, Poppe made the following statements:
“Bitcoin is breaking down as it fails to rise above $27,000, indicating that we will most likely test lower and break $26,000 as well.
Currently not accurate for entry into BTC, so a clear bullish divergence should be expected for an entry to BTC.”
#Bitcoin breaking south, as $27K wasn't flipped, which means we'll be testing lower and sweeping $26K, most likely.
Acceleration at the moment, so waiting for a clear bullish divergence to pop up for an entry. pic.twitter.com/t2nmQkXRQw
— Michaël van de Poppe (@CryptoMichNL) May 24, 2023
Popular crypto analyst Ali Martinez, who stated that the correction in Bitcoin, like Poppe, is not over yet and that the critical support levels, which signal that there may be more decline in the future, have been broken, claimed that there is a possibility of BTC falling to $ 23,000.
Sharing a Bitcoin-related data from IntoTheBlock, Martinez wrote:
“Bitcoin seems to be losing all major support areas. Beware of that.
This raises the possibility of correction to the next significant demand wall between $23,200 and $24,000, where 850,000 addresses previously bought 340,000 BTC.”
Notice that #Bitcoin appears to be losing all major areas of support. This increases the probability of a correction to the next important demand wall between $23,200 and $24,000, where 850,000 addresses had previously purchased 340,000 $BTC. pic.twitter.com/IvBLJKiSVw
— Ali (@ali_charts) May 24, 2023
*Not investment advice.
