PANews reported on January 11 that according to Marketwatch, Saxo Bank analyst Kim Kramer Larsson said that if Bitcoin falls below the $90,690 range support, it may face a larger decline. In the past five days, the price of Bitcoin has fallen by 3.9%, but it rose by 2.6% on Friday, trading at about $94,061. It is currently about 13.2% lower than the historical high of $108,309 set on December 17, 2024. Kramer Larsson analyzed that Bitcoin is forming a top based on the so-called shoulder-head-shoulder pattern, which is a chart pattern in technical analysis that predicts a reversal of a bullish trend to a bearish trend. If Bitcoin falls below the support level of around $90,680, it may face a drop to $73,000.
