Bitcoin bull run ‘might actually be over’ as Wyckoff pattern points to $86K

💡 DMK Insight

Bitcoin’s current price at $94,829 is precariously close to a critical support level. The Wyckoff pattern indicates a potential drop to $86,000 if BTC can’t maintain above $94,000, which is significant as it represents the average cost basis for long-term holders. If we see a breach below this level, it could trigger a wave of selling from those who bought in at higher prices, amplifying downward momentum. Traders should keep an eye on volume trends; a spike in selling volume could confirm this bearish scenario. On the flip side, if Bitcoin manages to hold above $94,000, it might attract buyers looking for a bounce, potentially leading to a retest of recent highs. Watch for key resistance around $100,000 as a psychological barrier that could dictate short-term trading strategies. The next few days will be crucial, so monitor these levels closely.