Bitcoin is trading near a major decision point. It is holding between strong resistance at $90,000 and a potential support zone between $70,000 and $65,000. Traders are watching how the price moves around these levels to gauge the next direction as the year ends.
Bearish Pattern Below $90K
Crypto Patel shared a chart showing Bitcoin forming a bearish pennant, which developed after a 22% drop and shows price tightening into a smaller range. The asset is near $87,900 at press time. Patel wrote,
“$BTC must break $90,000 to unlock the $107,000 upside.”
If the move fails, the target shifts to around $70,000, based on the size of the earlier drop. A further decline to $65,000 remains possible.
Notably, the pennant lines are converging, and the price is sitting near the apex. If the pattern breaks down, it would follow the same direction as the previous move. Patel called these levels “critical” and urged close attention.
Moreover, Lennaert Snyder noted that Bitcoin swept into the $
We współpracy z: https://cryptopotato.com/bearish-pattern-spells-trouble-for-bitcoin-btc-bulls/
