Bitcoin News: Bitcoin's volatility sharp decline is about to end with a breach of the support level at $90,000, and the return of the $50,000 target reappearing
Bitcoin traders are preparing for a decisive move after its price dropped below the $90,000 level, ending days of converging volatility and reviving bearish risk scenarios.
Bitcoin lost the support area at $90,000 before the week's close, which bolstered expectations that the current period of sharp volatility decline is nearing its end.
Key points:
The sideways trading range of Bitcoin, which lasted for several days, was broken as volatility reached its lowest levels.
Traders are anticipating a decisive breakout or a sharp decline after the week's close.
Bearish market patterns have begun to reappear at the $50,000 level as a potential bottom on a macro level. A rise in Bitcoin's price "is about to happen"
Data from Cointelegraph Markets Pro and TradingView indicates a sharp decline in Bitcoin's price during the week before it failed to recover the $90,000 level, with the price currently trading below the previous support level.
Repeated attempts to rise have been met with rejection near the resistance level, while bearish pressure finally pushed Bitcoin out of the narrow trading range - a classic indicator of volatility expansion.
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