Analyst Sounds The Alarm—Bitcoin Could Slide Toward $88K

Bitcoin’s recovery attempt is drawing attention after a week of steady losses, with one market watcher warning of a deeper fall if the coin fails to push past the $120,000 region.

The price of the world’s biggest cryptocurrency has already slipped by over 7% since touching $124,450 last week, raising doubts about the strength of its next move.

Wave Structure Signals Critical Stage

According to technical analyst CasiTrades, Bitcoin touched a low of $112,500 earlier today, a level that aligned with multiple timeframe targets.

The move also came with bullish divergences on momentum indicators, which pointed to a short-term rebound. The analyst framed this drop as part of a corrective pattern, calling it Wave 1 of an A-wave.

The next stage, labeled Wave 2, is expected to deliver a relief bounce. CasiTrades suggested that this move could carry Bitcoin back into the $119,900 to $121,900 zone.