Bitcoin Price Breaks Below Bear Flag Pattern; $98,200 Target Possible

Bitcoin has remained above $100,000 recently despite market volatility surrounding political and technological events. However, analyst Ali Martinez has issued a bearish forecast.

Key Points on BTC Price Movement

Martinez identifies a bear flag pattern in the 30-minute Bitcoin price chart.
This pattern suggests a potential drop below $100,000, with a target around $98,200.
A break below the lower boundary of this pattern signals a continuation of the downtrend.
The bullish outlook could be restored if Bitcoin rises to $102,800.
The $97,190 level is critical support, with over 1.45 million addresses holding approximately 1.36 million BTC at this price.
Currently, Bitcoin's price reflects a nearly 2% decline in the last 24 hours and over 4% drop weekly.

Investors should monitor these price levels closely for signs of market direction.