Shengbao Bank Analyst: If BTC falls below the support level of $90690, it may face a larger decline.

PANews reported on January 11th, according to Marketwatch, Kim Kramer Larsson, an analyst at Saxo Bank, stated that if BTC falls below the support level of $90,690, it may face a larger decline. In the past five days, the price of BTC has dropped by 3.9%, but it pumped by 2.6% on Friday, trading at around $94,061, currently down about 13.2% from the historical high of $108,309 set on December 17, 2024. Kramer Larsson analyzed that BTC is forming a top according to the so-called head and shoulders pattern, which is a chart pattern in Technical Analysis, predicting a reversal from a bullish trend to a bearish trend. If BTC falls below the support level of around $90,680, it may face a decline to $73,000.