Bitcoin Price Analysis: Trendline Breakdown Signals Possible Move Toward $75K

Bitcoin Update – Key Takeaways

1. Trend & Structure

• Price is below the yellow trendline → bearish pressure.

• Daily candle close is important for confirmation.

• Analyst believes wave 4 top is likely in.

• First major bearish signal: break below Friday’s low.2. Main Scenario (Orange – Most Probable)

• Expecting a 5-wave decline.

• Next major downside target zone:
  $74,000–$75,000

• Decline could form an ABC structure.

• This would be a healthy corrective move.

3. Alternative Scenario (White – Short-Term Bullish)

• A bounce is possible if bulls step in.

• Support zone to watch:
  $82,560 – $86,900

• If price reverses from this area, we may see a B-wave up.

• But this would likely be corrective, not a breakout to new ATHs.

4. Short-Term Levels

Support:

• $89,990

• $89,420

• $89,200 (structural low)

Resistance (Wave 4 bounce zone):

• $91,780 – $93,900

5. What the Analyst is Watching

• Wants to see a clean 5-wave decline for confirmation.

• If only 3 waves complete, downside might already be done.

• Next expected move: Wave 4 bounce, then potentially one more low.

Bias Summary