btc short
2025-01-05
Category: None



Bitcoin Analysis
The chart shows Bitcoin is currently trading within an ascending channel but has recently broken below the lower trendline. This breakdown signals potential bearish momentum.

The projected target for this move is $86,295, as marked by the blue zone. This level corresponds to a 12.77% drop from the current price. Key factors suggesting this move include:
	•	Trendline Breakout: A clear breakdown from the ascending channel.
	•	Volume: Increased selling pressure, as seen in the volume spikes.
	•	Moving Averages: Price crossing below key moving averages adds further bearish confirmation.

Traders should monitor price action around support zones and adjust their strategies accordingly.

