Peter Brandt Sounds Alarm on Bitcoin Sell Signal as Bear Channel Completes

Bitcoin remains under bearish pressure as key technical indicators show deteriorating momentum. The RSI remains below the 50 level on the daily chart, and the MACD histogram continues to expand below zero. A close below $87,787 could push BTC toward $85,569.

Institutional demand for Bitcoin has weakened, with ETF outflows intensifying. On Wednesday alone, spot Bitcoin ETFs recorded $708.71 million in outflows, the highest in months. Continued outflows may increase the likelihood of further corrections.

Ethereum faces its own technical challenges. Bulls have failed to reclaim key resistance levels, and a close below $3,000 could lead to a test of the $2,866 level. The MACD remains bearish, and red histogram bars support shorting pressure.

Why Did This Happen?

Bitcoin has broken below critical support levels, including the 50-day EMA at $92,044. The bear channel is completing, and technical momentum favors further downside.

The MACD indicator has shown a bearish crossover, increasing short-term selling pressure. Traders are advised to monitor the histogram and signal line for confirmation of further weakness.

How Did Markets React?

The market reacted to intensified ETF selling pressure by consolidating around key support levels. A rebound above $90,000 has stalled near EMAs, with bears maintaining control.

XRP has also shown mixed signals. While it has regained $1.95, it remains capped by the 50-day EMA at $2.05 and faces potential for a pullback to $1.85.

What Are Analysts Watching Next?

Bitcoin's ability to reclaim the broken wedge is critical. A breakdown below the $88,000–$88,500 support zone would open the door to $80,000.

Ethereum's next support zone is $2,797–$2,757. A break below that may expose the November low or even the psychological $2,500 level.

On-chain indicators suggest Bitcoin is in a mature phase of its cycle. The LTH inflation rate is near 1.9, close to historical bull peak levels.