#Bitcoin fell below $90,690 or plunged significantly#
Hot Topic Overview
Overview
Bitcoin's recent price decline has sparked market concerns. Kim Kramer Larsson, an analyst at Saxo Bank, has pointed out that if Bitcoin breaks below the support level of $90,690, it could face a much larger decline. He believes that Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that signals a reversal of the uptrend into a downtrend. If the support level is broken, Bitcoin could fall to $73,000. Analysts warn that the Bitcoin market may experience significant volatility in the future, and investors should exercise caution.
Ace Hot Topic Analysis
Analysis
Bitcoin has been on a downward trend recently, drawing market attention. Kim Kramer Larsson, an analyst at Saxo Bank, points out that if Bitcoin breaks below the $90,690 support level, it could face a much larger decline. Larsson analyzes that Bitcoin is forming a “head and shoulders pattern,” a technical analysis chart pattern that indicates a reversal from an uptrend to a downtrend. If it breaks below the $90,680 support level, Bitcoin could fall to $73,000. Analysts warn that the Bitcoin market could see an “ugly” move and investors need to be cautious. Although Bitcoin rose 2.6% on Friday, it is still down about 13.2% from its all-time high of $108,309 on December 17, 2024.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level.
If it breaks below the support level, Bitcoin could face a larger drop, possibly even reaching $73,000.
Bitcoin is forming a head and shoulders pattern, which is a chart pattern that predicts a reversal from an uptrend to a downtrend.
The downtrend in Bitcoin price may have already begun.