CoinDesk
Sep 16, 2025
4 0

Bitcoin Faces Resistance at 2017-21 Trendline; SOL Shows Bearish Signal

Bitcoin (BTC) Analysis

  • BTC is encountering resistance at $116,000, a level of bull fatigue identified since July.
  • The resistance aligns with a trendline from peaks in December 2017 and November 2021.
  • If BTC fails to break this resistance on the third attempt, it could lead to a deeper pullback.
  • Current prices hover around the Ichimoku cloud, indicating indecision; crossing it could signal momentum shifts.

BTC's daily chart with Ichimoku cloud. (TradingView/CoinDesk)

Solana (SOL) Insights

  • SOL formed a "shooting star" candlestick pattern after reaching a high near $250, suggesting a bearish reversal.
  • The price dipped to around $230, confirming potential trend reversal.
  • Bulls need SOL to reclaim and hold above $250 to regain control.

SOL's daily chart. (TradingView/CoinDesk)

Ethereum (ETH) Situation

  • ETH is moving sideways after reaching an all-time high near $5,000.
  • A symmetrical triangle pattern has formed, indicating market indecision.
  • Expect a breakout or breakdown to determine the next price direction.

Ether's daily chart in candlesticks format. (TradingView/CoinDesk)

Investors should monitor these technical patterns closely to anticipate potential market movements.