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As Bitcoin ($BTC ) hovers in the $90,000-$100,000 price range, crypto analysts are closely monitoring market movements, warning of a potential correction. The daily BTC chart shows signs of a possible "head and shoulders" formation, a classic bearish pattern that could lead to a price drop. Key Insights from Analysts 1. Aksel Kibar's Warning Renowned market technician Aksel Kibar shared his analysis on X, highlighting the possibility of a head and shoulders pattern that could pull BTC down to $80,000. However, Kibar emphasized that this pattern needs to fully materialize with a breach below the neckline to confirm the bearish outlook. He cautioned: > "It is not sufficient to just witness it. It needs to materialize with a breach below the neckline." 2. Ali Martinez's Critical Level Technical analyst Ali Martinez pinpointed $92,730 as a crucial support level. If Bitcoin loses this level, Martinez suggests it could enter "free-fall territory," referencing the UTXO Realized Price Distribution (URPD), which identifies key areas of BTC accumulation or spending. 3. Broader Concerns from Veteran Analysts Tone Vays: Warned that BTC trading below $95,000 could signal significant trouble. Peter Brandt: Highlighted the risk of Bitcoin breaking down from a "broadening triangle" formation, with the potential to fall to $70,000. The Bullish Perspective While short-term corrections appear likely, long-term outlooks remain optimistic. Thomas Lee (Fundstrat Capital): Predicts BTC could reach $250,000 by 2025, despite a potential dip to $60,000 in the near term. Sygnum Asset Management: Believes institutional demand could create "demand shocks," driving BTC prices higher. Moreover, Ali Martinez recently pointed to a "cup and handle" formation on the BTC chart, which, if confirmed, could trigger further upside momentum. Current Market Overview At the time of writing, Bitcoin trades at $94,149, down 2.5% in the last 24 hours. Analysts remain divided between bearish short-term risks and bullish long-term opportunities. What’s Next for Bitcoin? With key support levels in focus and potential bearish patterns developing, traders and investors should watch closely for confirmation signals. A break below critical levels could lead to significant corrections, while bullish patterns like the "cup and handle" could reignite upward momentum. Stay informed and plan your strategy accordingly—Bitcoin’s journey remains as dynamic as ever. $BTC

Bitcoin's price is currently trading between $90,000 and $100,000, but analysts like Aksel Kibar predict a potential correction due to a "head and shoulders" formation on the daily chart ¹ ². This could lead to a drop as low as $80,000. Kibar emphasizes that the pattern must fully materialize with a breach below the neckline for a significant pullback to occur ¹ ². Other analysts share similar bearish outlooks, with Ali Martinez identifying $92,730 as a crucial price level. Losing this level could push Bitcoin into "free fall territory" ². Tone Vays also warns that trading below $95,000 would be "very, very bad" for Bitcoin ². However, not everyone is pessimistic. Thomas Lee projects Bitcoin to surge to $250,000 by 2025, despite a potential short-term correction to $60,000 ². Sygnum also predicts "demand shocks" due to strong institutional interest, driving Bitcoin's price higher ². *Key Factors Influencing Bitcoin's Price:* - _Head and Shoulders Pattern_: A breach below the neckline could lead to a significant pullback ¹ ². - _Institutional Interest_: Strong demand from institutions could drive Bitcoin's price higher ². - _Macro Trends_: Global economic conditions and liquidity crunches may impact Bitcoin's price ³. - _Technical Analysis_: Chart patterns and indicators suggest potential corrections or breakouts ¹ ². Keep in mind that market predictions are subject to change, and it's essential to conduct thorough research before making investment decisions.

While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC

While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC

While Bitcoin, BTC, remains bound within the $90,000-$100,000 price bracket, some crypto analysts forecast that a correction could take place soon because a 'head and shoulders' formation is seen on the daily chart. Head and Shoulders: Can Bitcoin Drop to $80,000? Aksel Kibar, a seasoned analyst and trader, came forward on X to project some thoughts on the latest price action of BTC. On his post, this chartered market technician pointed out that he may see a head and shoulders formation on the daily BTC chart that could drop as low as $80,000. bitcoin kibar He explained that the pullback could see BTC's price head toward the broadening pattern that completed with a breakout above $73,600. Kibar, however, was keen to note that for a significant pullback in the BTC price, the head and shoulders pattern needs to paint up fully. He said: It is not sufficient to just witness it. It needs to materialize with a breach below the neckline. There exist many cases of failed head and shoulders tops especially in steady uptrends well above the year-long average. Other crypto analysts have also shared related bearish outlooks for Bitcoin's price. For instance, technical analyst Ali Martinez identified $92,730 as the critical price for the top cryptocurrency. According to Martinez, losing the level could plunge the BTC into "free fall territory, based on UTXO Realized Price Distribution (URPD). URPD stands for Unspent Output, price, and date-a metric that reflects Bitcoin's Unspent Transaction Outputs into a distribution across the wide range of price levels when they were last timestamped and moved. Simply explained, it helps pinpoint areas where large-scale BTC accumulation or spending has occurred in various price ranges as an indicator of investor behavior and sentiment. Elsewhere, former Wall Street derivatives trader Tone Vays also warned that BTC trading below the $95,000 price level would be "very, very bad" for the flagship digital asset. Similarly, veteran trader Peter Brandt recently warned of the possibility of BTC breaking down from a 'broadening triangle' formation, falling all the way to the $70,000 level. bitcoin brandt While some analysts are predicting a possible price correction, others are still optimistic of the long-term outlook of Bitcoin. Thomas Lee, an analyst at Fundstrat Capital, estimated that BTC could surge as high as $250,000 by 2025. He allowed, though, that a short-term correction to $60,000 might be possible early next year before Bitcoin embarks on a historic bull run. The Long-Term Bullish Case For BTC Though some analysts do believe that BTC is staring at a looming price correction, the long-term price predictions remain very positive. For instance, Crypto asset manager Sygnum believes that BTC might witness 'demand shocks' on the back of strong institutional interest in the digital asset that could push its price much higher. Earlier this month, Ali Martinez pointed out that a 'cup and handle' pattern might be forming on the chart of BTC. This may trigger additional upside momentum in the asset if it were to be actualized. At the time of writing, BTC changes hands at $94,149, down 2.5% in the last 24 hours. $BTC