Trader Warns Bitcoin Could Witness ‘Severe Momentum Blow’ if It Loses $90,000 – Here’s His Downside Target

An anonymous crypto analyst predicts a significant drop for Bitcoin (BTC) if it falls below $90,000.

During a recent analysis, the analyst known as Cheds, shared with his 49,600 YouTube followers that Bitcoin is currently moving sideways with a resistance level at $107,000 and a support level at $90,000.

Cheds emphasizes the importance of defending the $90,000 support level to maintain Bitcoin’s upward momentum. He warns that if this support level breaks, Bitcoin could potentially drop to as low as $72,000.

“Losing the $90,000 level would be a significant blow to momentum. There won’t be much resistance on the way down to $72,000 – $74,000.”