#Bitcoin breaks support, could fall further#
Hot Topic Overview
Overview
Bitcoin is currently facing a risk of decline. Saxo Bank analyst Kim Kramer Larsson believes that if Bitcoin breaks below the support level of $90,690, it could see a larger decline, potentially falling to $73,000. He pointed out that Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that suggests a reversal from an uptrend to a downtrend. The analyst warned that the decline in Bitcoin could become "ugly."
Ace Hot Topic Analysis
Analysis
Recently, the price of Bitcoin has been steadily declining, sparking market concerns. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the $90,690 support level, it could face a more significant decline. He analyzed that Bitcoin is forming a "head and shoulders pattern," a technical analysis chart pattern that predicts a reversal from an uptrend to a downtrend. If Bitcoin breaks below the support level of around $90,680, it could face a drop to $73,000. Other analysts have expressed similar concerns, believing that Bitcoin could lose its major support level and plummet. Currently, Bitcoin is down about 13.2% from its all-time high of $108,309 reached on December 17, 2024. Although Bitcoin prices rose 2.6% on Friday, over the past five days, Bitcoin prices have fallen 3.9%, and market sentiment remains cautious.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level.
After breaking below the support level, Bitcoin could face a larger decline, even falling to $73,000.
Bitcoin is forming a head and shoulders top pattern, signaling a reversal from a bullish trend to a bearish trend.
Bitcoin prices could get worse.