A warning: BTC to $70.000?

Bitcoin is currently trading around $90,000, which is notable. The sharp price increases following Donald Trump's election victory have been significant, but experts suggest that a period of cooling or consolidation could be expected. During strong upward trends, investors often delay selling, anticipating further gains. However, if the price unexpectedly starts to decline, it can trigger a wave of sudden sell-offs as many decide to sell at the same time. This dynamic often leads to significant corrections during bull markets.

According to this supply and demand indicator from LuxAlgo, we see an equilibrium zone around this specific level. This suggests that in that zone supply equals demand. Financial markets tend for price to move toward equilibria.

CryptoQuant analyst BaroVirtual sets his target for Bitcoin's correction just above $70,000. The reason for this is that the short-term moving averages of the Bitcoin price are starting to move further apart.

But what do you think?