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Title: Bitcoin (BTC) Head and Shoulders Pattern to Cause Drop to $80,000? Possible Scenarios
In a recent analysis by Bitwise CEO Alex Dovbnya, it seems that the future of Bitcoin is now uncertain. A potential head and shoulders pattern has emerged on the market, indicating that we may see a sharp drop in price, potentially even reaching as low as $80,000.
This development comes at a time when many experts are calling 2025 the “Year of Corporate Adoption.” If true, this could have significant implications for both the price of Bitcoin and its overall outlook.
Dovbnya emphasizes that key support levels, such as $91,000 and $87,000, must hold in order to avoid a more substantial retracement. However, should these levels be breached, there is potential for further bearish pressure to push the price down to as low as $80,000.
On the other hand, if Bitcoin can bounce back above $100,000, this could render the bearish head and shoulders pattern meaningless, potentially paving the way for a more significant upward move.
It’s essential to note that while we may not be able to predict with certainty whether these levels will hold or break, technical factors like key support and resistance levels, as well as overall market sentiment, will play a crucial role in determining the future of Bitcoin.
Source: u.today
