Bitcoin Price forms bearish head and shoulders and rising wedge patterns near $108,000, suggesting a possible downside toward $90,000.
Bitcoin price forms a rising wedge near $108,000, signaling a potential bearish reversal.
BTC/USD neckline break confirms head and shoulders pattern with downside bias.
Bitcoin price targets $90,000–$92,000 after bearish breakout from wedge structure.
Bitcoin Price is under increasing pressure due to the bearish patterns that are developing around the major support of $108,000. Technical charts reveal a falling trend, and the possible negative price levels of $90,000 in the case of failure to protect the existing prices.
Bitcoin Price Prediction: Tests Key Support as Bearish Patterns Strengthen
Bitcoin Price is technically weak, with the price movement forming a rising wedge and also a head and shoulders. These are chart patterns that usually indicate a possible reversal following prolonged uptrends.
The trend of the daily chart depicts three distinct peaks. The head is composed of the central peak, and the shoulders are made of two lower highs on both sides. The neckline around $108000 over the recent past has been temporarily breached, meaning the weakening of the bullish force. The movements of prices have become narrow along up-sloping trend lines and have created a wedge structure, which is an indication of slower momentum.
https://x.com/serkan_saka_/status/1981086022877192341
Source: X
The neckline break was followed by an increase in bearish pressure, and the wedge pattern on which the neckline break was observed confirmed the downside breakout. The estimated relocation out of this building is towards the $90,000-92000 locality. This level matches a previous accumulation zone from earlier in the year, where buyers showed strong interest. Unless the price recovers above $108,000, traders may expect further weakness.
Bitcoin Price Shows Slowing Momentum on Weekly Chart
Additionally, Bitcoin Price is on the weekly timeframe in a wide uptrend that began in the middle of 2023 and continued into early 2025. Nonetheless, the market is currently beginning to consolidate. Price has been trading between $70,000 and $75,000, where the price is still resisting.
https://x.com/matthughes13/status/1980812651325272194
Source: X
The trendline that had aided most of the rally is beginning to lose some steam. The upward movement above the price of $70,000 indicates a high demand in the long term, though the momentum seems to mellow down. Analysts refer to this stage as a potential rest following a long progress.
Bitcoin Price Holds Key Intraday Support Amid Short-Term Uncertainty
At the time of writing, the coin was trading on a high surge on the 5-minute chart. The price increased continuously within the period 03:00- 06:30, and penetrated through various resistance lines. Increasing volume assured that there was tremendous buying power in this move.
https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD
Source: TradingView
At around 06:00, Bitcoin hit $110,000, reaching a local peak before a minor retracement. Afterward, the market entered a tight range between $109,000 and $110,000, reflecting temporary indecision. Around 11:30, a quick drop to $108,800 occurred as sellers tested short-term support.
