#Bitcoin breaks support, **could face a significant drop**#
Hot Topic Overview
Overview
Bitcoin is currently facing downside risks, with analysts warning of a potential break below support levels and a significant decline. Saxo Bank analyst Kim Kramer Larsson points out that if Bitcoin breaks below the $90,690 support level, it could face a steeper drop, potentially even falling to $73,000. He believes Bitcoin is forming a top, a technical analysis chart pattern that signals a reversal from an uptrend to a downtrend. While Bitcoin gained 2.6% on Friday, its price is still down about 13.2% from its all-time high, and its future outlook is not optimistic.
Ace Hot Topic Analysis
Analysis
Bitcoin has been facing downward pressure recently, with analysts widely expecting it to break through support levels and experience a significant drop. Saxo Bank analyst Kim Kramer Larsson pointed out that if Bitcoin breaks below the support level of $90,690, it could further decline to $73,000. He believes Bitcoin is forming a "head and shoulders pattern," a technical analysis chart formation that suggests a shift from a bullish to a bearish trend. This pattern indicates that Bitcoin may have peaked and is facing a future decline. Analysts generally agree that Bitcoin's break below support levels will intensify its downward trend and could lead to a substantial price drop.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level, facing a larger drop.
Bitcoin could be forming a head and shoulders top pattern, signaling a reversal from a bullish trend to a bearish trend.
If Bitcoin breaks below the $90,680 support level, it could fall to $73,000.
Bitcoin price could see a significant drop, and things could get worse.