Analyst Says Bitcoin Crash Has Just Started, It’s Over for Bulls. Here’s why
Main Idea
Analyst Gordon predicts that Bitcoin's crash has just begun, citing a Head and Shoulders breakdown and macroeconomic risks as key factors driving the bearish trend.
Key Points
1. Gordon identifies a Head and Shoulders pattern in Bitcoin's price chart, with a neckline break at $112,000 confirming a bearish reversal.
2. Bitcoin's price has dropped over 6% from its July high of $122,838, with the $112,000 zone now acting as strong resistance.
3. Macroeconomic risks, including U.S. tariff policies under President Trump, are exacerbating Bitcoin's decline.
4. Some analysts warn of a potential drop to $85,000 if key support levels fail, though reclaiming $116,000–$118,000 could alter the bearish outlook.
5. Gordon's analysis suggests the current downtrend is just the beginning, with further declines likely unless key resistance levels are breached.
Description
Bitcoin is once again under pressure , and according to prominent analyst Gordon, the long-feared breakdown is now in full motion. In a recent post on X, Gordon declared, “BTC crash has just started. It’s over for bulls,” accompanying the warning with a technical chart that paints a stark picture. His analysis suggests Bitcoin has broken out of a bearish reversal pattern with significant downside potential. A Head and Shoulders Breakdown Signals Trouble Gordon’s chart shows a classic Head and Sh...
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