These key support levels can help Bitcoin avoid a ‘bear flag’ crash to $88K

Bitcoin (BTC) is exhibiting a textbook bear flag pattern on the daily chart following a sharp downward move, consolidating upward in a parallel channel since bottoming near $103,530 on October 11. A daily close below the flag's support line, currently at $107,500, would validate this bearish continuation pattern, targeting a drop to $88,100, representing a 19% loss. Momentum indicators like the RSI at 42 also favor the downside. Analysts are watching several key levels; holding above the 0.85 quantile cost basis at $108,600 is crucial to avoid deeper corrections toward $97,500, according to Glassnode. Furthermore, the $111,000 level is significant in the short term, and a break below $107,000 could clear the path toward $100,000 or lower.

(Source：Cointelegraph)