Ali Martinez: bitcoin is expected to pull back to $ 83,000

Bitcoin BTC $75,177.46 Mezo Wrapped BTC -0.81% Market capitalization $0.1 billion VOL. 24 hours $0.63 billion is trading near $ 103,400, but the market is approaching a critical point — $ 94,000 is considered a key support level. This mark coincides with the 66-week exponential moving average (EMA) and an open price gap on the CME. If the support fails, analysts predict a short-term decline before a potential start of a new uptrend.

An analyst at EGRAG CRYPTO called this zone the «last dance of the bears,» citing historical data where Bitcoin often touched or dropped below the EMA before large-scale recoveries. Ash Crypto drew attention to the possible formation of a «death cross» — the intersection of the 50-day moving average with the 200-day. According to him, the previous three cases of such a signal were accompanied by local lows, after which Bitcoin showed growth over the next week.

In turn, Ali Martinez noted that a head-and-shoulders pattern is forming on the chart with a support line of about $ 100,000. If the price rises to $ 112,000, the pattern will be completed, which could lead to a pullback to $ 83,000. At the moment, the pattern has not yet been confirmed, and the price is fluctuating between $ 100,000 and $ 107,200.

The overall picture shows increased volatility. The hash rate of miners remains consistently high, while the activity of large players («whales») has decreased, which may indicate a decrease in sales pressure. Market participants are currently refraining from taking active action, waiting for confirmation of the future direction.

The next few days could be crucial: if the $ 94,000 level holds, Bitcoin has a chance to recover. If the support is broken, the market may move to a deeper correction before a new stage of growth.