Prediction markets indicate a 67% probability that Bitcoin will fall
In addition, long-term analysis using Fibonacci channels shows that Bitcoin could still experience a deeper correction. In previous cycles, similar setups have led to declines of up to 70%. Key technical levels suggest that the price could test around $47,000 as a minimum target, with a possible extension down to $38,000 in a worst-case scenario. The current setup is also being described as a potential bull trap, where short-term upward moves may mislead traders before a larger drop. According to trader Linton Worm: “Unless we clear $76K with massive volume, the bears are in total control.” This indicates that Bitcoin must break above $76,000 with strong momentum to invalidate the bearish trend. Until then, the downside scenario remains dominant. Two scenarios could play out: Until resistance is broken, the broader trend remains bearish.5. “Second Fakeout” Pattern
What Next For Bitcoin Price?
Bearish Scenario (More Likely)
Bullish Scenario (Less Likely)
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