Bitcoin Risks Slide Toward $76,000 as Analysts Flag Weakening Rebound

Bitcoin retreated toward its yearly opening levels after trading near $95,000 and could slip below $90,000 on intraday time frames, Cointelegraph reported on Jan. 8. Material Indicators co-founder Keith Alan said Bitcoin's first breakout attempt was rejected and highlighted key technical support between $87,500 and $89,000, adding that any rebounds following a macro death cross expected on the weekly chart later this month should be treated as sell opportunities unless data suggest otherwise. Trader Roman reiterated a short-term target of $76,000, a level last seen in April, and stated that with price currently near $89,000, the downward move remains in progress and sideways action is merely resetting the market for that level, with no signs of reversal and higher time frames still looking strongly bearish.