“There are all reasons to be careful”: Trading issues are alert on bitcoin amid great resistance – here is his view

The encryption and encryption analyst is closely warned that Bitcoin (BTC) is at a great risk of deeper correction.

In a new publication, Justin Bennett encryption dealer Recount His 115,900 followers on the X social media platform that the Bitcoin Market structure weakens because it failed to restore 92,000 dollars as support.

“How do some people still get it? Bitcoin closed February less than $ 92,000. This happened. There is nothing else to wait. So far, March has found resistance there. As long as BTC is less than $ 92,000 on the basis of a monthly closure, there are all reasons to be careful at the macro level.”

analyst He says Even if Bitcoin shows some market strength this month, if it fails to close March above 92,000 dollars, the main digital assets are still at risk of collapse.

“Nice recovery from BTC 81500 dollars + re -test. The US Consumer Prices Index (Consumer Prices Index) came less than expectations after some of the January hot numbers, so it is more likely some comfort of risk assets. I can see $ 88,000 and perhaps a $ 92,000 sweep, but from there, all eyes turned into the February collapse that I discussed.”

Bennett also He says Based on the historical link of Bitcoin with stock performance, the market bottom is unlikely to be in BTC where the S&P 500 is corrected.

“And if the monthly structure S&P since the great financial crisis (which I have shared 117 times) is any indicator, we still have ways to go before we can start talking about a meaningful bottom.”

Bitcoin is trading for $ 80,916 at the time of writing, a decrease of 3.2 % in the past 24 hours.

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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.

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