Bitcoin has struggled in recent days after being rejected at $85,000 on Wednesday and is fighting to preserve the crucial $80,000 support. Ted Pillows and EGRAG CRYPTO say the summer consolidation, the late-August and September rally, and the pullback from $87,000 to $80,000 closely resemble the pattern seen after the November 2022 bottom. Pillows forecasts that a shock similar to the one caused by the US banking crisis in 2022 could send bitcoin down to $74,000-$75,000 before a rebound toward $90,000. EGRAG CRYPTO remains bullish: a move above $82,900, followed by a break through $86,000-$87,000, would confirm the start of the real rally, with targets at $98,400 and $114,900.
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