W3BStation
Markets
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/18/2025

Bitcoin Breaks Rising Wedge: Deep Correction Risk, Target Could Hit $88,000

Bitcoin (BTC) dropped nearly 8% in just a few days, falling from its all-time high above $124,500 to around $115,000, raising concerns about a sharper correction in the weeks ahead. Technical analysis points to a Rising Wedge pattern — typically seen as a bearish reversal signal — having broken down. Deep correction risk below $100,000 According to analyst Captain Faibik, Bitcoin breaking through the Rising Wedge support line signals weakening momentum and rising selling pressure. The nearest support zone sit

Bitcoin Breaks Rising Wedge: Deep Correction Risk, Target Could Hit $88,000

Bitcoin (BTC) dropped nearly 8% in just a few days, falling from its all-time high above $124,500 to around $115,000, raising concerns about a sharper correction in the weeks ahead. Technical analysis points to a Rising Wedge pattern — typically seen as a bearish reversal signal — having broken down.

Deep Correction Risk Below $100,000

According to analyst Captain Faibik, Bitcoin breaking through the Rising Wedge support line signals weakening momentum and rising selling pressure. The nearest support zone sits at $110,000 – $112,000. If that level fails, BTC could fall to $105,000 – $108,000, or even test the key psychological level of $100,000.

In a bearish scenario, the price target derived from the wedge pattern's height puts BTC as low as $88,000.

The "Double Top" Pattern and Parallels to 2021

Beyond the Rising Wedge, some analysts are also concerned about a Double Top pattern forming, similar to what played out in 2021. Back then, BTC crashed from $69,000 to below $16,000 — a drop of over 77%. If history repeats, price could pull back to the $94,700 range by September.

Whales Begin Taking Profit

On-chain data from Glassnode shows the number of "mega whale" wallets holding more than 10,000 BTC has dropped to its lowest level of the year. Wallets in the 1,000 – 10,000 BTC range have also declined, reflecting profit-taking activity following BTC's new all-time high. Selling pressure from these large wallets is adding to correction risk.

Key Difference from 2021: The Fed Could Cut Rates

That said, the current backdrop is different from 2021. Back then, the Fed was beginning to tighten monetary policy, whereas today markets are pricing in a 25 basis point rate cut in September. Combined with rising global money supply (M2), this could provide support for Bitcoin and sustain the longer-term uptrend. Some forecasts even suggest BTC could reach $132,000 – $170,000 this cycle.

👉 In short, Bitcoin is at a sensitive juncture: near-term downside correction risk remains real, but over the medium-to-long term, global liquidity and looser monetary policy could serve as a meaningful floor.