Analyst: "Bitcoin Quickly Broke Through This Range in the Trump Rally! Now it's at risk of falling!" - What Are the Critical Levels for BTC?

While the leading cryptocurrency *Bitcoin (BTC) fell sharply to $ 88,000, the risk of further declines remains.

At this point, analysts stated that Bitcoin could test the next support levels, while one analyst stated that the price could fall as low as $81,600.

Alex Thorn, head of research at Galaxy Digital, explained the critical levels for Bitcoin in a post from his *** X account.

In this analysis, Thorn used the URPD indicator, which shows how much and at what price Bitcoin was bought, and stated that there were almost no transactions between $75,000 and $85,000 in BTC.***

According to the analyst, Bitcoin quickly crossed this range with the rally it experienced after Donald Trump's victory in November last year. Therefore, there is a possibility that Bitcoin could test this range in the current downtrend.

Thorn also noted that the 200-day moving average of Bitcoin is $(MA) 81,600, stating that if the range of $75,000- $85,000 is tested again, he expects $81,600 to be a strong support.

"The Bitcoin URPD indicator shows that there are almost no trades between $75,000 and $85,000. That's because BTC price quickly broke through this range last November and could test this zone.

Also, the 200-day moving average is (MA) at $81,600, which has the potential to support the price if this range is retested."