#Bitcoin falls below $90,000, could continue to decline#
Hot Topic Overview
Overview
Bitcoin's recent price decline has sparked market concerns. Saxo Bank analyst Kim Kramer Larsson pointed out that if Bitcoin breaks below the $90,690 support level, it could face a steeper decline. 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. If it breaks below the support level around $90,680, Bitcoin could fall to $73,000. Other analysts have expressed similar concerns, suggesting that Bitcoin could lose major support and plummet.
Ace Hot Topic Analysis
Analysis
Currently, Bitcoin faces a downside risk. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the $90,690 support level, it could face a larger decline. 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. If it breaks below the support level around $90,680, Bitcoin could fall to $73,000. Other analysts share similar views, suggesting that Bitcoin may lose its key support level and plunge. While Bitcoin rose 2.6% on Friday, it has fallen 3.9% over the past five days, currently down about 13.2% from its all-time high.
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 is forming a head and shoulders pattern, signaling a reversal from a bullish trend to a bearish trend.
If Bitcoin breaks below the $90,680 support level, it could drop to $73,000.
Bitcoin price could see a significant drop, the situation could get worse.