$BTC / USDT | CRITICAL BREAKDOWN ALERT
Bitcoin is testing its long-term ascending trendline from August.
We saw a clear breakdown from the short-term rising wedge (yellow) and now BTC is hovering right around the major trendline support near $83,200.
Bearish Scenario (Playing out):
If BTC fails to reclaim $85,000 - $85,500 quickly and closes below the purple trendline, this is a classic trendline breakdown.
Next downside target: $72,000 - $73,000
That would be a ∼12% correction from current levels.
Bullish Invalidation:
If buyers defend $82,800 and push back above $85,500, the breakdown becomes a fakeout and BTC could continue towards $92,500.
The next 4H - Daily close is very important.
Are you expecting a bounce or $72k incoming?
#Bitcoin #BTC #crypto
Bitcoin is testing its long-term ascending trendline from August.
We saw a clear breakdown from the short-term rising wedge (yellow) and now BTC is hovering right around the major trendline support near $83,200.
Bearish Scenario (Playing out):
If BTC fails to reclaim $85,000 - $85,500 quickly and closes below the purple trendline, this is a classic trendline breakdown.
Next downside target: $72,000 - $73,000
That would be a ∼12% correction from current levels.
Bullish Invalidation:
If buyers defend $82,800 and push back above $85,500, the breakdown becomes a fakeout and BTC could continue towards $92,500.
The next 4H - Daily close is very important.
Are you expecting a bounce or $72k incoming?
#Bitcoin #BTC #crypto