#Bitcoin breaks support level, may fall#
Hot Topic Overview
Overview
Bitcoin price is currently facing downside risks, with analysts predicting a potential break below the $90,690 support level. Saxo Bank analyst Kim Kramer Larsson points 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. If bitcoin breaks below the $90,680 support level, it could fall to $73,000. Analysts warn that the bitcoin market could see an "ugly" sell-off.
Ace Hot Topic Analysis
Analysis
Bitcoin's recent price action has sparked market concerns, with analysts warning of a potential breakdown below support levels, leading to a significant decline. Kim Kramer Larsson, an analyst at Saxo Bank, pointed out that if Bitcoin breaks below the $90,690 support zone, it could face a more substantial drop. He believes Bitcoin is forming a "head and shoulders" pattern, a technical analysis chart pattern that signals a reversal from an uptrend to a downtrend. If Bitcoin breaks below the $90,680 support level, it could potentially fall to $73,000. Other analysts also share a bearish view, suggesting a potentially "ugly" move in the Bitcoin market. Currently, Bitcoin is down approximately 13.2% from its all-time high, with market uncertainty surrounding its future trajectory.
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, possibly even falling to $73,000.
Bitcoin is forming a head and shoulders pattern, signaling a reversal from a bullish trend to a bearish trend.
Bitcoin prices could see a significant drop, and the situation is not optimistic.