Bitcoin hits a wall – the chart just challenged the $88,000 bull case
CoinDesk
Bitcoin faces renewed selling pressure after failing to break above a significant long-term descending trendline resistance level.Summary
Bitcoin has encountered a technical roadblock as its price hit a descending trendline that has persisted since its October peak. Although analysts recently projected a rally toward $88,000 based on fundamental factors, the current price rejection suggests the broader bear market trend remains dominant. Traders are now watching to see if Bitcoin can clear this resistance with significant volume; otherwise, further declines toward $65,000 are possible.
(Source：CoinDesk)