Bitcoin Holds Key Trendline — Upside to $90K–$106K If Sustained, $70K Risk if Broken
Bitcoin has rebounded off a pivotal trendline now acting as support. Analysts see measured upside targets at $90.5K, $98K and $106K if the level holds, while a breakdown could push prices toward $70K–$72K. Bullish views (Dami-Defi) point to a healthy pullback and accumulation by long-term holders; bearish warnings (Oren Elbaz) cite loss of the primary rising trendline and liquidity diversion into silver, increasing downside risk. Trader commentary (Guru) stresses risk management amid range-bound action and leveraged liquidations, while institutional flows via spot ETFs continue to absorb supply. Separately, European crypto adoption remains steady: ECB data shows 9% of eurozone adults owned crypto by 2024, awareness above 90% in major markets, with country-level ownership ranging roughly 6%–15%. Key takeaways for traders: monitor the trendline and volume for confirmation, use tight position sizing and stops below the trendline to limit downside, and factor macro drivers (Fed guidance, precious metals strength) that could shift liquidity. Primary keywords: Bitcoin, trendline support, $90K, $70K, Europe crypto adoption.
Neutral
The article presents balanced bullish and bearish signals, so the expected market impact is neutral. Bullish factors: Bitcoin bounced off a previously resistant trendline now acting as support, measured upside targets ($90.5K–$106K) are plausible if the level holds, and institutional spot ETF flows continue to absorb supply — all supportive for price stability or gradual appreciation. Bearish factors: notable analysts warn Bitcoin lost its primary rising trendline and that liquidity may shift to precious metals (notably silver), creating a meaningful downside pathway to $70K–$72K; leveraged long positions and range-bound action raise liquidation risk. Historically, similar scenarios (trendline holds with ETF inflows) led to moderate rallies, while trendline breaks amid liquidity rotations have triggered sharp retracements. Short-term implications: elevated volatility and range trading; traders should use tight risk controls, watch volume and on-chain accumulation metrics, and monitor precious metals strength and Fed signals. Long-term implications: sustained institutional adoption and rising regional ownership (Europe) support structural demand, but systemic downside can occur if macro liquidity contracts — keeping the medium-term outlook conditional rather than directional.