Feb 28, 2026
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BEARISH 📉 : Bitcoin breaks $107,000 support, projected to hit $35,000
Bitcoin has entered bearish territory after breaking a long-term support level at $107,000.
- The weekly candlestick chart indicates a deeper correction could lead to prices as low as $35,000 by 2026.
- A breakdown below the major ascending trendline around $107,000 signaled this shift.
- This trendline supported Bitcoin's rally from 2023-2025, peaking at $126,080.
Fibonacci Levels and Price Targets
- Bitcoin's downward trajectory since early 2023 may continue until it bottoms out around $35,000.
- Historical bear markets saw declines of 77% to 84% before major rallies.
- Current projections suggest potential stabilization at the 0.5 Fibonacci retracement level of $44,000.
- If $44,000 does not hold, the next target is the 0.618 Fibonacci retracement at $35,000.
- Bitcoin is currently trading at $63,740, a 6% decrease over the past 24 hours.
