TechFlow reported on February 25 that crypto KOL Ansem posted an analysis stating, "It appears Bitcoin has broken below the support level that previously halted declines and has breached the trading range on higher timeframes.
The key level to maintain a bearish outlook on higher timeframes is around $96,500. Notably, in this cycle, there hasn't yet been any bearish breakout from a high time frame trading range—only a downward deviation so far. Let's wait and see.
In my view, the key question now is whether the cryptocurrency market is leading in signaling risk-off sentiment for the broader market. If equity indices also decline over the coming weeks, this would more likely mark the beginning of a downtrend rather than just a minor pullback within an ongoing uptrend."
