Bitcoin trades near $90K as traders watch for a breakout or breakdown, with patterns hinting at a move toward $107K or down to $65K.
Bitcoin is trading near a major decision point. It is holding between strong resistance at $90,000 and a potential support zone between $70,000 and $65,000. Traders are watching how the price moves around these levels to gauge the next direction as the year ends.
Crypto Patel shared a chart showing Bitcoin forming a bearish pennant, which developed after a 22% drop and shows price tightening into a smaller range. The asset is near $87,900 at press time. Patel wrote,
“$BTC must break $90,000 to unlock the $107,000 upside.”
If the move fails, the target shifts to around $70,000, based on the size of the earlier drop. A further decline to $65,000 remains possible.
Notably, the pennant lines are converging, and the price is sitting near the apex. If the pattern breaks down, it would follow the same direction as the previous move. Patel called these levels “critical” and urged close attention.
Moreover, Lennaert Snyder noted that Bitcoin swept into the $86,900 zone, which he described as an area of interest for long trades. He said,
“Before entering longs, I’d prefer to see some liquidations first.”
He also mentioned $85,000 and slightly lower levels as better long setups if the market dips again. On the short side, Snyder said he would wait for a push above $90,600, followed by weakness, before taking action. He added,
“If we see a serious reclaim above ~$90,600, I’ll be looking for continuation longs.”
Ali Martienz shared a chart showing a death cross on the weekly timeframe. This pattern formed three weeks ago, when the 10-week moving average crossed below the 50-week. He pointed out that in past cycles, this signal often came before deeper pullbacks or long sideways periods. Past drawdowns included moves of -54% to -66%.
Daan Crypto Trades noted that Bitcoin is close to the lower band of its regression trend, often referred to as the rainbow chart. That zone currently ranges between $60,000 and $80,000. He explained,
“This is generally where BTC sits during its bear market and doesn’t drop below (2022 aside).”
As long as the asset remains within this price range, traders are observing how it responds along the lower border. The subsequent action can determine further upward trending or a turn downward into the beginning of 2026.
