Bitcoin Hits Resistance, Falls Back Below $88K
Bitcoin (BTC $87,244.29) struggled Monday to sustain gains, retreating below $88,000 after failing to overcome a key descending trendline.
The trendline, extending from October’s $126,000 record high and connecting subsequent peaks—including $116,400—blocked BTC’s push above $90,000, reinforcing the fourth-quarter “staircase-down” pattern. The resulting “lower high” highlights renewed selling pressure and stalled momentum toward six figures.
Near-term support sits at $84,000–$84,500, with the November low around $80,000 as a secondary floor.
A breakout above the trendline is needed to reignite bullish momentum. If BTC surpasses this resistance, especially amid a weakening dollar index, it could accelerate toward the $100,000 mark.
