Crypto markets have taken another beating today and many are down 30%-50% from their 52-week Highs from Nov-Dec hype. What will happen when BTC break below Support?

We’re seeing many assets break below their prior low from Dec 20th when prices also dipped on macro news.

This is important because when prices make Lower Lows and Lower Highs, that’s a sign of Downtrend.

Not all, but many of the majors are dipping below that prior low from Dec 20th including BTC, ETH, TRX, LINK, APT, AAVE. Here are examples:

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It’s easy to quickly find assets that are breaking below their prior low.

Just use a Pre-Set filter on the Screener:

(see live filter results here)

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However, some assets are still above those prior lows from December, including BNB, DOGE and ADA:

Binance Coin BNB

DOGE Coin

Cardano ADA

So trends are clearly deteriorating, and we’re at a critical stage between Uptrend and Downtrend, it seems. That’s also signified by BTC sitting near $90K support.

What if BTC breaks below $90K support?

BTC did not spend much time in the $80K-$90K area. It went from $80K to $90K within 2 days. So there’s not much data to lean on. Maybe it’ll fill that gap eventually. Here’s a daily (1D) chart (see area marked in purple):

BTC – Daily (1D) Chart

BTC on 1H (hourly) interval shows more granularity of trading in the $80K – $90K area (see chart). Based on that, there could be some support at $88K and $85K.

BTC – Hourly (1H) Chart

Find this and other technical analyses in our Technical Analysis section.

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