| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107353.6300000000 |
| ETH | $2439.6370000000 |
| BNB | $649.9543600000 |
| XRP | $2.1863950000 |
| ADA | $0.5617692000 |
| SOL | $150.1501000000 |
| DOGE | $N/A |
| DOT | $3.4067000000 |
| LTC | $86.7900000000 |
| LINK | $13.4316600000 |
Category: CRYPTO NEWS
The post Bitcoin bearish in tumble toward $97,000 appeared on BitcoinEthereumNews.com. Key takeaways: The emergence of a bear flag on the four-hour chart projects a Bitcoin price drop to $97,000. Traders say BTC price may drop as low as $85,000 if key support levels are broken, including the $100,000 psychological level and the yearly opening at around $92,000. Bitcoin’s (BTC) price is forming a classic bearish pattern on lower time frames, triggering fears that a breakdown could lead to a drop toward $97,000. Breakout points to $97K target Bitcoin’s price action has formed a textbook bear flag pattern on the four-hour chart, a bearish continuation setup formed when the price consolidates upward in a parallel channel after a sharp downward move. In Bitcoin’s case, the flag began forming after BTC bottomed at nearly $103,100 on May 31. The consolidation persisted over the weekend, with the price continuously retesting the support line of the flag. The bearish continuation will be confirmed once the price breaks below the lower boundary of the flag at $104,800. The pattern’s projected downside target is now sitting near $97,690, measured after adding the height of the initial flagpole to the breakout point. BTC/USD four-hour price chart. Source: Cointelegraph/TradingView Momentum indicators, including the relative strength index (RSI), are also supportive, with the RSI currently at 44, suggesting that the market conditions still favour the downside. Watch these Bitcoin price levels in June — Traders Data from Cointelegraph Markets Pro and TradingView shows that the BTC/USD pair has dropped 6.3% from its all-time highs above $111,000. While BTC price closed 11% higher in May, traders are questioning which direction the price might take moving forward. The month of June has historically produced mixed results with an average of 0.3% losses. Bitcoin monthly returns, %. Source: CoinGlass For crypto analyst Daan Crypto Trades, the mid-range at $99,600 and the previous…
2025-06-03T02:37:09+00:00