According to FinBold, Bitcoin (BTC) is at risk of a correction toward $70,000 as technical indicators show a bearish flag forming. Analyst Ali Martinez noted in a December 9 X post that Bitcoin has failed to break past the mid-$90,000 resistance, with a tightening consolidation pattern suggesting a potential breakdown. Another analyst, Michaël van de Poppe, highlighted $92,000 as a key level that could determine whether the market stabilizes or faces a deeper correction. Bitcoin was trading at $90,522 at press time, down over 1% in the past 24 hours.
Bitcoin Faces Risk of Correction Toward $70,000 as Bearish Flag Formed
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