Will Bitcoin price fall below the $42,000 level once again? Here’s what’s next for BTC price:

Crypto analyst Bitcoin Hypher warns of potential risks as Bitcoin rebounds from recent lows. In a recent video, the analyst discussed the risk of a reversal after hitting an important price target.

Analysis shows that while the recent move has resulted in a 14% surge, warning signs are emerging due to lower volume.

Bitcoin recently fell below its previous lows and a massive surge in liquidations worth about $25 million helped secure liquidity. This indicates that a large number of traders are liquidating on the downside.

Analysis involves studying higher time frames, especially daily charts using logarithmic scaling. The intermediate level of the important support and resistance channel has been identified as an important price target and has already been reached.

During the recent uptrend, signs of weakness were observed in declining volume. Analysts point out that despite the high prices, the corresponding volume is decreasing, which is waning interest from traders.

Chart analysis includes the identification of impulse and corrective waves, indicating that a fifth and final wave to the upside is likely to be completed. However, analysts remain cautious, suggesting a corrective ABC pattern could be forming.

The analysis ends on a negative note considering bearish volume indicators and the potential completion of an impulse wave. Traders are advised to monitor specific price levels, such as the recently confirmed weekly price of $41,600.

Here’s what’s next for Bitcoin price:

He also said he would focus on the weekly level of $43,900, which suggests a possible rejection of the downside as he witnessed a pattern of swing failures near previous highs.

If the price continues to rise, there will be resistance areas, especially around $44,000. As of this writing, Bitcoin is trading around $43,300.