Bitcoin Has Officially Entered Bearish Territory, And It’s Headed To $35,000; Chart Shows

Crypto analyst Crypto Patel claims Bitcoin has entered bearish territory after breaking below $107,000 support, projecting a potential decline to $35,000 by 2026. The analysis is based on Fibonacci retracement levels and historical cycle patterns showing 77-84% corrections in previous bear markets.

• →Bitcoin broke below a major ascending trendline at $107,000, officially entering bearish territory according to technical analysis.
• →Fibonacci retracement levels suggest potential downside targets of $44,000 (0.5 level) and $35,000 (0.618 level).
• →Historical Bitcoin cycles show corrections of 77-84% from peak to trough in 2018 and 2022 bear markets.
• →The trendline that was broken acted as dynamic support throughout the 2023-2025 rally before Bitcoin peaked at $126,080.
• →Bitcoin is currently trading at $63,740, down 6% in the past 24 hours as the correction continues.