Bitcoin traded near $89,000 as of press time, down modestly on the day with trading volume around $39 billion, after technical signals raised short-term downside risk, according to a report reported. A 2-day death cross and a forming bear flag are prompting traders to watch key support levels closely.
The 2-day death cross occurs when the 50-period moving average crosses below the 200-period moving average, a setup Crypto Crew University linked to past drops in 2014, 2018, and 2022, each followed by 50–70% falls (Ed. note: these past instances also included brief bounces that trapped bulls). “That bounce has often been the bull trap.”
Analyst Titan of Crypto posted that BTC remains inside a long-developing rising wedge, and a bear flag within that wedge could push price down toward the wedge bottom if it breaks lower.
Market watcher Lofty wrote “If the 4-year cycle is still in play, $BTC will dump to $40,000 in two weeks.” Veteran trader Peter Brandt said a lower break could target roughly $58,000–$62,000.
A prediction platform estimate cited by Kalshi places a 64% chance BTC surpasses $100,000 before June 2026, according to an industry post estimate. Large holders are reportedly accumulating, with wallets holding 1,000–10,000 BTC increasing purchases, as Crypto Waterman reported “The bottom is very close now.”
