#Bitcoin breaks support, could fall further#
Hot Topic Overview
Overview
Bitcoin is currently facing a risk of decline, with analysts widely expecting it to break below support levels and fall further. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the support level of $90,690, it could fall to $73,000. He believes that Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that suggests a reversal from an uptrend to a downtrend. Other analysts have expressed similar concerns, suggesting that the Bitcoin market could see an "ugly" decline. Although Bitcoin rose 2.6% on Friday, it remains 13.2% below its all-time high, and its future trajectory remains to be closely watched.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent price action has sparked market attention, with analysts widely predicting a potential break below support levels and a significant decline. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the $90,690 support zone, it could face a more substantial drop. He analyzed that Bitcoin is forming a top according to the so-called head-and-shoulders pattern, a technical analysis chart pattern that predicts a reversal from an uptrend to a downtrend. If Bitcoin breaks below the support level around $90,680, it could potentially fall to $73,000. Other analysts share similar views, suggesting that Bitcoin could experience an "ugly" decline. Currently, Bitcoin is down about 13.2% from its all-time high of $108,309 reached on December 17, 2024, and its future trajectory remains closely watched.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level and face a larger decline.
Bitcoin is forming a head and shoulders pattern, a technical analysis chart pattern that predicts a reversal from an uptrend to a downtrend.
If Bitcoin breaks below the support level around $90,680, it could fall to $73,000.
Bitcoin could lose its major support level and plummet.