Sep 5, 2025
5 0
Trader Plans Bids at $94K and $82K Amid Bitcoin’s Bearish Outlook
Analyst Brent Donnelly plans to place bids for Bitcoin (BTC) at $94,000 and $82,000 amid a lack of short-term bullish drivers and a deteriorating technical outlook. Key points include:
- Bullish narrative absent; BTC trades like a risky asset.
- Interest in digital asset treasuries is declining.
- Historical trends indicate a potential bear market following the last halving in April 2024.
- Institutionalization through ETFs may have altered traditional halving cycle impacts.
- Current technical indicators show a bearish double top pattern.
- Last week's drop below $111,982 confirmed a shift from bullish to bearish trend.
- Resistance now at $111,982; critical for future price movements.
- U.S. nonfarm payrolls report could impact BTC prices significantly.
- Traders are buying undervalued BTC put options on CME in anticipation of market downturn.
