The oft-cited Wyckoff pattern suggests that Bitcoin price could be headed toward $86,000 next, especially if BTC fails to hold $94,000, which is the average cost basis of 6 to 12-month Bitcoin holders.
Key takeaways:
Bitcoin’s drop below $100,000 comes as a Wyckoff Distribution pattern points to a potential decline toward $86,000.
Some analysts remain optimistic, arguing that the bull market will hold as long as the $94,000 support level remains intact.
