#Bitcoin Could Plummet#
Hot Topic Overview
Overview
Bitcoin's recent price movements have sparked market concern, with several analysts predicting a significant drop. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the $90,690 support level, it could face a steeper decline, potentially falling to $73,000. He believes 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 views, suggesting that Bitcoin could lose major support levels and plummet. Bitcoin's price is currently down about 13.2% from its all-time high, and the market is filled with concerns about future movements.
Ace Hot Topic Analysis
Analysis
Bitcoin is facing a risk of a significant decline in the near future. 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 larger decline. He analyzed 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 Bitcoin breaks below the support level of around $90,680, it could fall to $73,000. Other analysts have also expressed similar concerns, believing that Bitcoin could lose major support levels and plunge. Currently, Bitcoin is down about 13.2% from its all-time high of $108,309 reached on December 17, 2024. The future trend still needs to be closely monitored.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin could break below the $90,690 support level and face a deeper drop.
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 $90,680 support level, it could drop to $73,000.
Bitcoin prices could see a sharp drop, and things could get bad.