$BTC Bitcoin Must Reclaim US$98,000 to Escape Short-Term Bearish Pressure📈📈📈

Bitcoin is forming a sloping double top pattern on the short-term timeframe, where this structure usually indicates a bearish continuation. Although patterns like this often precede price declines, on-chain factors and broader macro conditions reduce the chance of a sharp sudden drop. Support from long-term holders remains a factor that mitigates the risk of aggressive declines.

Currently, BTC is still holding above the 38.2% Fibonacci retracement level at US$90,914. If the price successfully bounces from this zone, movement could stabilize again. Maintaining this support could bring Bitcoin back to the US$94,000 range, which could weaken the double top structure and delay bearish confirmation.

However, the risk of a price decline remains high. Nic Puckrin, co-founder of Coin Bureau, stated to BeInCrypto that Bitcoin could drop below US$90,000 due to increasing geopolitical uncertainty surrounding Greenland.

If this scenario truly plays out and BTC definitively breaks below US$90,000, the target decline of the double top pattern of 6% will be a primary concern. This scenario would open up the possibility for prices to approach US$86,558.

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