#Bitcoin could plunge.#
Hot Topic Overview
Overview
Recently, the price movement of Bitcoin has attracted market attention, with multiple analysts predicting a potential sharp decline. 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 decline, potentially falling to $73,000. He believes that Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that signals a reversal from an uptrend to a downtrend. In addition, other analysts have expressed similar views, believing that Bitcoin could lose its major support level and plummet. Currently, Bitcoin's price has fallen by approximately 13.2% from its all-time high, with the market filled with concerns about its future direction.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent price action has caught the market's attention, with multiple analysts predicting a potential significant drop. Kim Kramer Larsson, an analyst at Saxo Bank, has stated that if Bitcoin breaks below the $90,690 support level, it could face a steeper decline. He analyzed that Bitcoin is forming a top based on the so-called "head and shoulders" pattern, a technical analysis chart formation that predicts a reversal from an uptrend to a downtrend. If Bitcoin breaks below the support level around $90,680, it could potentially drop to $73,000. Another analyst expressed, "It could get ugly," suggesting that Bitcoin might lose its main support level and plummet. Currently, Bitcoin is down approximately 13.2% from its all-time high of $108,309 on December 17, 2024, 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 larger decline.
Bitcoin is forming a head-and-shoulders pattern, signaling a reversal from an uptrend to a downtrend.
If Bitcoin breaks below the $90,680 support level, it could fall to $73,000.
Bitcoin prices could see a significant decline, and things could get worse.