- Bitcoin dropped below the $90,000 support level as its weekly trading closed.
- Price volatility has reached “extreme” lows, suggesting an imminent breakout.
- Potential for a breakdown to the $73,700–$76,500 range or a rise to $95,000 and possibly $100,000.
- Technical analysis indicates a bear market phase with a possible decline toward $50,000.
- Bitcoin’s price is constrained by dynamic resistance from moving averages and low buying volume.
Bitcoin (BTC) fell below the $90,000 support level leading up to its weekly close as traders monitor for a significant price move. The cryptocurrency experienced flat price action over the weekend, indicating strong horizontal resistance nearby and very low volatility.
Data from Cointelegraph Markets Pro and TradingView show Bitcoin trading in a tight range without clear upward momentum. Analyst Aksel Kibar noted on X that the market is in an “extreme low volatility setup,” which often precedes a strong directional move. He suggested two scenarios: a breakdown from the bear flag pattern potentially lowering BTC to $73,700–$76,500, or a rebound that breaches $94,600 with an aim toward $100,000 within a broadening chart pattern, as described in his recent post here.
Additional insights from trader Ted indicate that the $90,000 level remains a pivot point, with upward momentum requiring a reclaim of $92,000–$94,000. Losing support below $89,000 could prompt a drop to the $85,000 range, while Crypto Tony advised focusing on trading the breakout from the narrow $90,600–$89,800 range, mentioned on X as well.
Onchain analytics from CryptoQuant warn that the bear market phase has begun. Contributor Pelin Ay detailed in a Ethereum-Technical-Analysis” rel=”noopener nofollow”>Quicktake blog that downward-sloping simple moving averages act as dynamic resistance, with selling volumes outweighing buying volumes during recovery attempts. This behavior supports a bearish market structure and weak upward conviction.
While Ethereum (ETH) has shown a stronger recovery from lows, the analysis suggests limited optimism for Bitcoin in the short term. The bear market phase may deepen, potentially driving Bitcoin prices toward the $50,000 level before any substantial upward movement.
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