Bitcoin flashes more crash signals as path to $83,000 emerges

As Bitcoin ( BTC ) struggles to hold above the $95,000 support zone, the cryptocurrency appears primed for deeper losses toward the $80,000 region. According to analysis by Ali Martinez, Bitcoin has broken below a key ascending channel, a structure that had supported price action throughout previous months. The breakdown is significant because it signals a shift in momentum from consolidation to a more pronounced bearish trend. In an X post on November 16, the analyst noted that this move “opens the door to a drop toward $83,500,” marking one of the most bearish near-term projections since the recent market correction began. Bitcoin price analysis chart. Source: TradingView After failing to reclaim the $100,500 support zone, Bitcoin continued forming lower highs and lower lows, pointing to a weakening market structure. The analysis outlined a likely brief consolidation between $95,000 and $97,000 before the downtrend resumes. At the same time, the...

https://finbold.com/bitcoin-flashes-more-crash-signals-as-path-to-83000-emerges/