The trader and analyst Axel Kibar recently posted on platform X: "The volatility is extremely low. This usually means a directional move is imminent." Kibar identified two main scenarios after the breakout:
Continuation of the bearish flag pattern on the daily chart
Or a rebound only if Bitcoin decisively regains the area of $94,600 to $95,000.
Kibar added: "If this turns into a bearish flag, a final drop to the area of $73,700 to $76,500 could occur, where we expect to find a low in the medium term."
He continued: "However, if Bitcoin manages to reclaim $94,600, it may quickly test the $100,000 level, which represents the minimum for the broader expansion pattern." Traders point out that the breakout at $89,000 represents a key turning point.
Other market participants indicated that falling below the $90,000 level is a critical change in the short term.
Crypto trader Tony told his followers: "The price range was between $90,600 and $89,800, and we have now surpassed it."
He added: "Only trade upon breaking the support level." The failure to hold above the $90,000 level has turned the previous support level into an immediate resistance level, increasing the risk of a pullback if buyers do not respond.
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