Bitcoin Retreats Below $88K as Trendline Resistance Persists
Bitcoin (BTC $87,244.29) fell back below $88,000 Monday after failing to break through a key descending trendline.
The resistance line, extending from October’s $126,000 record high and linking peaks like $116,400, repelled BTC’s push above $90,000, continuing the fourth-quarter “staircase-down” pattern. Another “lower high” signals renewed selling pressure and stalled momentum toward six figures.
Near-term support lies between $84,000 and $84,500, with the November low around $80,000 as a secondary floor.
A sustained breakout above the trendline is needed to revive bullish momentum. If BTC clears this barrier, particularly amid a weakening dollar index, it could accelerate toward $100,000.
