#Bitcoin plunges below $90,000, could be set for a major drop.#
Hot Topic Overview
Overview
Recently, Bitcoin's price has been on a continuous decline, sparking market concerns. Saxo Bank analyst Kim Kramer Larsson pointed out that if Bitcoin breaks below the $90,690 support level, it could face a more significant decline. He believes that Bitcoin is forming a “head and shoulders” pattern, a technical analysis chart pattern that indicates a reversal from a bullish trend to a bearish trend. If it breaks below the support level of around $90,680, Bitcoin could fall to $73,000. Other analysts have expressed similar concerns, believing that Bitcoin could lose its major support level and plunge.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent dip below the $90,000 mark has sparked market concerns, with analysts predicting further declines. Kim Kramer Larsson, an analyst at Saxo Bank, points out that if Bitcoin breaks below the $90,690 support level, it could fall to $73,000. He believes Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that signals a reversal from an uptrend to a downtrend. Other analysts share similar concerns, arguing that Bitcoin could lose major support and plummet. While Bitcoin has rebounded somewhat on Friday, it remains significantly below its all-time high, and its future trajectory warrants close monitoring.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level, facing a bigger drop.
Bitcoin could be forming a top, the bullish trend will reverse to bearish.
Bitcoin broke below the $90,680 support level, it could drop to $73,000.
Bitcoin price declines could become more severe.