Bitcoin Loses Ascending Channel: What's Next? 📉
Bitcoin has broken down from its ascending channel. It's now consolidating below former channel support, which has flipped into resistance around 89.5k–90.5k. Price is currently making lower highs, indicating a bearish structure in the short term.
A rejection from this resistance zone could trigger further downside continuation. Key interim support lies near 85.5k–86k.
Loss of the 85.5k–86k area would open the path towards a final TP zone of 80.5k–81k. A sustained reclaim and hold above 90.5k would invalidate this short-term bearish outlook.
Bitcoin has broken down from its ascending channel. It's now consolidating below former channel support, which has flipped into resistance around 89.5k–90.5k. Price is currently making lower highs, indicating a bearish structure in the short term.
A rejection from this resistance zone could trigger further downside continuation. Key interim support lies near 85.5k–86k.
Loss of the 85.5k–86k area would open the path towards a final TP zone of 80.5k–81k. A sustained reclaim and hold above 90.5k would invalidate this short-term bearish outlook.