Yesterday, Bitcoin experienced another drop, falling from above 100K and reaching a low of just over 94K, briefly touching the ascending trendline that dates back to the time of Trump’s election.
While the price action since November 5 has been characterized by higher highs and higher lows—usually a sign of bullish momentum—the broader structure appears to signal a potential reversal. This pattern suggests that Bitcoin is struggling to sustain its highs, raising doubts about its ability to maintain upward momentum, at least for now.
Although a new all-time high remains a possibility, I believe it is unlikely that Bitcoin will hold gains above 100K for an extended period. Instead, the more probable scenario involves a correction toward the 85K level.
A critical area to monitor lies between 92,500 and 93,000. A decisive break below this support zone would confirm my bearish outlook and could signal the beginning of a deeper correction.
While the price action since November 5 has been characterized by higher highs and higher lows—usually a sign of bullish momentum—the broader structure appears to signal a potential reversal. This pattern suggests that Bitcoin is struggling to sustain its highs, raising doubts about its ability to maintain upward momentum, at least for now.
Although a new all-time high remains a possibility, I believe it is unlikely that Bitcoin will hold gains above 100K for an extended period. Instead, the more probable scenario involves a correction toward the 85K level.
A critical area to monitor lies between 92,500 and 93,000. A decisive break below this support zone would confirm my bearish outlook and could signal the beginning of a deeper correction.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.