According to crypto analyst Sherlock, Bitcoin’s price could fall to $63,000. He’s identified important price points for traders to monitor and suggests potential areas to initiate short positions if the price does decline.
Key Levels To Watch With Bitcoin Price Crash To $63,000 On The Cards
In a recent post on X, a trader known as Sherlock advised looking for an opportunity to sell Bitcoin around $80,000 if the price fails to move higher and instead gets pushed back down. However, he cautioned that if Bitcoin rises above its April high of $79,485 before May 5th, traders should avoid selling immediately and instead wait for the price to stabilize after the initial increase.
The analyst believes that if Bitcoin’s price rises above its April high, a good opportunity to sell (or ‘short’) would be when the price reaches $84,000 to $85,000. He anticipates a quick price increase in that area. Because Bitcoin has already broken past the April high, it could still climb to around $85,000 before potentially falling in value.
According to a chart by analyst Sherlock, Bitcoin’s price could fall to around $63,000 within a month if it reaches $85,000. He believes this drop is still possible even with the current positive price trend. Sherlock points out that since 2020, Bitcoin has consistently experienced a price decrease in May if it doesn’t surpass April’s highest price within the first five days of the month.
For a while there, Bitcoin seemed stuck below its previous high from April. But things changed last year – on May 1st, it broke through that level, and then really took off, jumping another 16.9% to almost $112,000 by May 22nd. Because of that strong move, I still think we could see Bitcoin hit around $85,000 before any major price drop happens.
BTC Looks Ready For More Upside
As a researcher following the crypto markets, I’m seeing strong signals that Bitcoin could be poised for further gains. Recently, the price broke through $79,000, which suggests a clear upward trend, though we might see some temporary dips along the way. A key driver appears to be the continued investment into Bitcoin ETFs – they’ve already seen over $1.6 billion flow in so far this month, and that momentum could push Bitcoin as high as $93,000.
According to Van de Poppe, Bitcoin is currently attracting significant attention, and he sees a clear shift of investment from gold into Bitcoin. He expects the current price increase to continue for a while, suggesting Bitcoin could rally to between $86,000 and $93,000, with the most likely range being $91,000 to $93,000.
As of today, Bitcoin is trading for approximately $81,200, showing gains over the past 24 hours, based on CoinMarketCap data.
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2026-05-06 15:42