Analyst Cred: $8,200 will be a key support for BTC and may still fall 30% in the future

According to Cointelegraph, technical analysts in the encryption field such as Josh Rager and Cred expect $8,200 to be a key support level that could prevent BTC from falling again to the $7,000 area. Bitcoin's last fall below $7,000 was on March 17, when it fell to $6,400, due to an unexpected sell-off of 5000 BTC on the Bitstamp platform, which led to a massive liquidation of the BitMEX contract. Bitcoin has shown strong momentum since then, investors have signs of FOMO, and there is an upward vertical rebound. Cred said that as long as the support level of $8,200 is defended, the rise to $9,600 is still a realistic target and a high time frame resistance level. In the past month, bitcoin prices have risen from $5,322 to $8,700, an increase of 54%. However, according to the historical performance of Bitcoin and its sharp correction from 30% to 40% after the price surged, Cred pointed out that it is still possible to fall by 30% in the future.