Bitcoin Meets $93,000 Resistance as Monthly MACD Signals Potential 60% Correction

Bitcoin is trading near $86,000 after failing to break above the 50-week Exponential Moving Average and a long-term descending trendline. The monthly MACD has crossed into bearish territory, a signal that preceded an average 60% decline in previous cycles. If historical patterns repeat, the asset could decline toward $40,000 from its recent peak near $110,000.