Almost four years ago, bitcoin witnessed a sharp decline of 17% from USD 19,500 to USD 16,200 in 2020, an event that became known as the Thanksgiving massacre, and with the holiday approaching again, Market Traders are wondering if history may repeat itself, especially after bitcoin fell on Monday and Tuesday, to correct by 8%, as it fell from the levels of almost USD 99,000 to the lows of USD 91,000.

Despite the cautious forecasts, some analysts believe that the decline may be short-lived.

Technically:-

bitcoin rose today, Wednesday, after two days of declines, during which it was able to break the levels of the ascending wedge on the four-hour frame, where we expect bitcoin to reach the levels of 95,800 to 96,000 dollars, of which the sale will be aimed at the levels of 87,000 to 86,500 dollars, which if broken, we expect further declines of 75,000 dollars.

This scenario fails if the top breaks 99,000 dollars.