As technical analysis suggests a price decrease, Bitcoin’s negative forecasts are getting attention. Recently, cryptocurrencies dropped below $91,000. Bitcoin dropped unexpectedly to $91,000 for many reasons. These factors included market dominance decline and instability. Despite this setback, one industry expert predicts a worse future for the leading cryptocurrency. A bearish flag pattern implies market declines. This is corroborated by the pattern. The analyst predicts a further decline to $90,000. Professionals foresaw this.
Bearish Bitcoin Flag Pattern
Crypto specialist Pejman Zwin of TradingView forecasted a highly favourable future for Bitcoin prices in chart analysis. The researcher predicted this gloomy outcome based on a bearish flag pattern and other technical indicators. Zwin says Bitcoin shows a bearish flag pattern, indicating a possible downward trend continuation.
If this flag pattern continues, Bitcoin prices may plummet. According to the expert, Bitcoin’s support and resistance were marked by the 50-day moving average (Mof A) of around $95,974. A recent breach below this MA suggests that Bitcoin may continue to fall, which is bad. According to Zwin, Bitcoin prices.
Bitcoin back below $90,540
Have good support between $95,000 and $90,870. He also noted that the pioneer cryptocurrency is piercing important support levels, which may portend a continued decline. Based on technical indicators and chart patterns, Zwin anticipates a catastrophic Bitcoin price crash to $91,000. The expert would risk $91,000 if Bitcoin broke support lines.
He warned that breaking from the strong support zone might push Bitcoin back below $90,540, its last low. Zwin’s bearish estimate follows Bitcoin’s sharp drop to $91,000 on Monday. The market tone toward Bitcoin has deteriorated throughout this flat trading, and unfavourable price movement continues. Bitcoin has recovered to $93,893 after a sharp drop. If the price falls to Zwin’s forecast of $90,540, the Bitcoin crisis will worsen by 3.6%.
Bitcoin’s Uptrend Prediction
Zwin contrasted his pessimistic prediction for Bitcoin’s price with a hopeful scenario that could result in a comeback. According to TradingView, the price of Bitcoin can reach a maximum of $95,974. If Bitcoin price breaks above the resistance levels, it might signal an upward turnaround and render the bearish flag pattern invalid. Bitcoin will reach unprecedented heights, according to market analyst “Mister Crypto” on X (formerly Twitter). In the next two days, the expert says, Bitcoin might turn around and start going up again.
Summary
Bitcoin Bearish Forecast Drops to $91,000. Declining market dominance and volatility prompted the price decline. According to TradingView cryptocurrency specialist Pejman Zwin, a bearish flag pattern might lead to additional declines, possibly below $90,000.After breaking the 50-day moving average, Zwin expects the bearish trend to continue, finding support between $95,000 and $90,870. Zwin believes a break above resistance lines could reverse the current trend despite the bleak outlook. Mister Crypto forecasts a two-day Bitcoin breakthrough to record highs.
