$BTC đ¨ Bitcoin Warning: Rising Wedge + Miner Selling Signal Possible Drop to $77K
$BTC Bitcoin (BTC) is hovering near $89,500, but the calm may be deceptive. Technical and on-chain signals are lining up for a potential downside move of ~13% toward $77,000 if key support breaks.
Whatâs flashing red đ
đ Rising Wedge Breakdown Risk
BTC is consolidating inside a rising wedge, a pattern that often resolves lower. Multiple doji candles show hesitation, not strength. A daily close below $88,500 could trigger a sharp sell-off.
đ Key EMA Lost
Bitcoin lost its 20-day EMA on Jan 20. Historically, failure to reclaim it quickly has led to 8â15% corrections.
âď¸ Miner Capitulation Pressure
Network fees down 70% (from 194 BTC â 59 BTC)
Miner selling surged 8Ă in two weeks
Falling fees are forcing miners to sell BTC to cover costs
đ HODLer Support Is Weakening
Long-term holder accumulation slowed 24%
Whale wallets have flattened, hinting at distribution, not accumulation
đ Bottom line:
If buyers fail to defend current levels, BTC could slide fast toward $77K. Until the 20-day EMA (~$91K) is reclaimed, downside risk remains elevated.
Are you trusting the HODLers⌠or respecting the warning signs? đ
#bitcoin #BTC #CryptoMarketAlert #TechnicalAnalysiss #miners