Bitcoin Price Expected to Decline Further to $85,000
Analysts predict a potential decline in the Bitcoin price, with expectations of reaching lows around $85,000 due to ongoing market volatility and consolidation. Key points include:
- The current trading pattern indicates sideways movement, failing to break out of its consolidation zone.
- Recent crashes below $100,000 stem from broader market dynamics and U.S. tariff impacts.
- Continued trading below critical resistance levels suggests a persistent downtrend.
- The support zone is identified between $85,000 and $87,500, which may provide stability.
- A descending channel pattern indicates a short-term bearish trend.
However, there remains a bullish scenario if Bitcoin can breach resistance levels between $97,000 and $102,500. This could lead to an upward trajectory, potentially reaching $120,000.
