Bitcoin Has Officially Entered Bearish Territory, | Crypto News
Bitcoin’s higher-timeframe construction is in an fascinating state, according to crypto analyst Crypto Patel, who is of the notion that the cryptocurrency has formally entered bearish territory after breaking a long-term assist degree at $107,000.
Technical analysis of price motion on the weekly candlestick price chart exhibits Bitcoin is now in this bearish territory, with a projection of a deeper correction to as low as $35,000 in 2026. The outlook is based on Fibonacci retracement ranges that might decide Bitcoin’s next price transfer.
Bearish Territory Kicked In After Breakdown Below $107,000
The outlook of this technical analysis is based on the premise that Bitcoin entered into bearish territory after the price broke down below a major higher-timeframe ascending trendline around $107,000. This trendline, which is seen on the weekly chart shared by Crypto Patel, acted as dynamic assist throughout a lot of the 2023 to 2025 rally. It linked a sequence of larger lows and helped maintain the broader bullish construction that ended with Bitcoin reaching a peak price of $126,080.
The chart exhibits the breakdown zone with a pink circle, indicating where the price decisively misplaced that upward assist. After the breach, Bitcoin entered into a modified momentum and started printing decrease highs. According to Patel, that trendline was the road in the sand, and shedding it was when Bitcoin formally entered bearish territory. The market now wants a healthy correction before the next leg up.
Fibonacci Levels Point To $44,000 And $35,000
Bitcoin has been on a downward path since the start of the yr, and the projection is that this will continue until it bottoms out around $35,000. This outlook is based on how a lot the Bitcoin price corrected in earlier cycles.
For occasion, the 2018 bear market noticed an roughly 84% decline from peak to trough. Similarly, the 2022 correction erased roughly 77% from its cycle high. In both cases, these deep retracements got here before the next major rally.
Based on that historic perspective, a transfer below $50,000 from the current price degree wouldn’t be unprecedented. Instead, it might match within Bitcoin’s established cycle conduct.
The projected draw back targets are derived from Fibonacci retracement ranges drawn from the October 2025 all-time high. Two ranges stand out clearly on the chart. The first degree is the 0.5 Fibonacci retracement, which is at present around $44,000. The 0.5 Fibonacci retracement is a mid-cycle pullback degree and has always attracted strong shopping for curiosity in earlier corrections, making it a doable stabilization level if promoting stress slows down.
Should Bitcoin fail to discover assist close to $44,000, then the next degree is the 0.618 Fibonacci retracement around $35,000. The expectation is that Bitcoin will finally backside at $35,000 even if it fails to maintain above $44,000. At the time of writing, Bitcoin is trading at $63,740, down by 6% in the past 24 hours.
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