Bitcoin's (BTC) growing roadblock: The trendline from $126,000 limits gains
A descending trendline from Bitcoin's record high near $126,000 is currently capping recovery attempts, keeping prices below $88,000.Summary
Bitcoin's (BTC) late-year attempt to recover momentum stalled on Monday as prices were forced back below $88,000. This resistance is defined by a descending trendline drawn from the October record high above $126,000, which connects subsequent peaks, including the $116,400 high. Failing to break this trendline reinforces a bearish "staircase-down" pattern seen throughout the fourth quarter, as BTC printed another "lower high." The immediate outlook remains bearish, with focus shifting toward the $84,000–$84,500 support zone, followed by the November low near $80,000. A bullish reversal would require BTC to decisively overcome this trendline resistance, which could then accelerate gains toward the $100,000 mark, especially if the U.S. dollar index continues to slide.
(Source：CoinDesk)