#Bitcoin could break support levels#

Bitcoin is currently facing the risk of breaking below support levels, and analysts are expressing concerns. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the support level of $90,690, it could face a larger drop, potentially falling 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, warning that Bitcoin could "get ugly" and lose major support levels. Despite dropping 3.9% over the past five days, Bitcoin rose 2.6% on Friday, currently trading around $94,061, still about 13.2% below its all-time high. However, analysts believe that if Bitcoin breaks below support levels, it could trigger a larger drop, and investors need to closely monitor market dynamics and be prepared to manage risks.