🚨 Bitcoin Price Risks a 15% Drop if Key Level Breaks — What I’m Watching 🔥
$BTC is feeling the pressure again. Down 4% in 24 hours and nearly 10% in the last 30 days, it’s clear that selling pressure is building across the market. But here’s what I’m really focused on right now:
There’s a critical level that could decide Bitcoin’s fate before the year closes. If Bitcoin fails to hold this, the risks of a 15% drop increase sharply.
🧭 What I’m Watching on Bitcoin:
2-Year SMA (Simple Moving Average): Bitcoin is currently testing its 2-Year SMA near $82,800.
Why it matters: This isn’t just another support level - it’s one of Bitcoin’s most important long-term cycle markers. The 2Y SMA has historically been a key indicator for reversals.
If Bitcoin closes below this level by month-end, I’ll be looking for downside risks to increase dramatically.
Closing the Month Matters: What’s critical is not intraday movement but where Bitcoin closes the month. So, if we break below $82,800 and close lower, expect momentum to shift toward the downside.
📊 WBT Price Movement - Here's What I'm Seeing
While Bitcoin faces risks, WhiteBIT’s WBT is showing strong resistance at $58.225. It’s hovering at $57.89, and despite some market fluctuations, it’s holding positively.
What this means: If Bitcoin finds support and recovers, WBT might be well-positioned for short-term and long-term opportunities.
💡 My Take
Short-Term: If Bitcoin holds $82,800, we could see a short-term bounce back above $85,000.
Long-Term: The $82,800 level is crucial. A close below this could signal a deeper correction for Bitcoin - possibly toward $70,000.
I’m keeping my eyes on this level closely, and if Bitcoin closes below it, I’ll be adjusting my positions.
🚀 What’s Next?
As macro conditions evolve, Bitcoin could either bounce back or head into a correction phase before the year ends. Watching the 2Y SMA is key.
