Jan 9, 2026
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Bitcoin Must Stay Above $87,200 To Avoid Falling To $69,230
A cryptocurrency analyst suggests that Bitcoin could face a drop to $69,230 if it fails to maintain support above $87,200 within its Bear Pennant pattern.
Key Points
- Bitcoin is currently trading in a Bear Pennant, a technical analysis pattern indicating potential bearish continuation.
- The critical support level for Bitcoin is around $87,200; failure to hold this may lead to a breakout towards $69,230.
- The Bear Pennant pattern suggests a move similar to the initial downward trend (the "pole") upon breaking support.
- Bitcoin recently retested the pennant's upper line at $94,000 but faced rejection, causing a retracement.
- Bitcoin's current trading price is approximately $90,400, with a slight weekly increase of over 1%.
The Active Realized Price, an on-chain metric by Glassnode indicating active investors' cost basis, is at $87,700. This suggests that these investors are in marginal profit territory.
The market will be closely watching Bitcoin's movement near these key levels to predict future trends.