Bitcoin Prices Crashing! Is This the End of Crypto as We Know It? 😱

So, here we are, folks! Most coins are in the red zone, drowning like they just watched a bad movie. But hey, there are a couple of exceptions to the rule, just to keep things interesting. Thanks, CoinMarketCap, for nothing!

BTC/USD

Guess what? Bitcoin (BTC) has dropped by 1.69% in the last 24 hours. Wow, what a shocker! I was just saying to myself, “You know what this market needs? More dips!”

Now, the hourly chart says BTC may have set a local resistance at $86,979. If the daily bar closes far from that number, those bears are gonna come out like it’s a holiday! We might just see BTC drop to the $85,000 range! Yippee!

On the bigger picture, things don’t look so rosy for our bullish friends. If buyers want to play again, they need to get that rate above the all-important $90,000. What are they waiting for? A personal invitation?

Until then, the bears are running this party. 🐻

From a midterm perspective—whatever that means—keep your eyes peeled on the weekly bar’s closure around the $89,392 mark. If it closes below that with no long wick, oh boy, here comes the decline straight to the $80,000 area! Grab the popcorn!

As of now, Bitcoin is hanging on at $86,338. What a ride!

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2025-02-27 16:38