Bitcoin Risks Drop Below $9K After 4-Day Low
Bitcoin risks falling to levels below $9,000, courtesy of the bearish setup on the technical charts.
Bitcoin dropped to four-day lows below $9,200 on Monday and now looks set to explore levels below the $9,000 mark, the technical charts indicate.
Yesterday's downwards move meant the cryptocurrency closed below the 10-day moving average (MA) – signaling short-term bullish invalidation – having failed to beat the key inverse head-and-shoulders neckline resistance over the weekend.
As of writing, BTC is trading at $9,357 on Bitfinex – largely unchanged on the day, but down 6.3 percent from the recent high of $9,990. Worryingly for the bulls, the price chart analysis indicates the losses could be extended further over the next 24 hours.
1-hour chart
The inverted flag (also known as a bear flag) breakdown suggests the sell-off from the high of $9,990 has resumed and BTC could drop to $8,865 (target as per the measured height method – pole height subtracted from breakdown price).
The momentum studies also favor the bears, with both the 50-hour moving average (MA) and 100-hour MA showing a bearish bias (sloping downwards). Further, the 50-hour MA looks set to cut the 200-hour MA from above (bearish crossover).
Daily chart
As noted earlier, BTC closed below the 10-day MA yesterday, signaling that the rally from the April 1 low of $6,425 has made a temporary top at $9,990.
Further, BTC's attempt to retake the 10-day MA failed earlier today and the 5-day MA has adopted a bearish bias.
As a result, the cryptocurrency looks likely to find acceptance below the ascending trendline (drawn from the April 18 low and May 1 low) and possibly drop below the $9,000 mark in the next 24 hours or so.
View
- BTC could drop to $8,865 (bear flag target).
- A daily close (as per UTC) below the 100-day MA located at $8,897 would confirm a short-term bullish-to-bearish trend change and could yield a deeper drop to $7,787 (61.8 percent Fibonacci retracement of the rally from $6,425 to $9,990).
- On the higher side, a move above $9,678 would put $10,000 back on the map. That said, only a daily close above $10,000 would revive the bullish outlook.
Fairground ridehttps://www.shutterstock.com/image-photo/colorful-ferris-wheel-playground-against-blue-188149133?src=GV0OBQB7DAK3zzsaRXVDPw-1-25 image via Shutterstock
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Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Why it matters:
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
