The post Bitcoin flashes more crash signals as path to $83,000 emerges appeared on BitcoinEthereumNews.com. As Bitcoin (BTC) struggles to hold above the $95,000 support zone, the cryptocurrency appears primed for deeper losses toward the $80,000 region. According to analysis by Ali Martinez, Bitcoin has broken below a key ascending channel, a structure that had supported price action throughout previous months. The breakdown is significant because it signals a shift in momentum from consolidation to a more pronounced bearish trend. In an X post on November 16, the analyst noted that this move “opens the door to a drop toward $83,500,” marking one of the most bearish near-term projections since the recent market correction began. Bitcoin price analysis chart. Source: TradingView After failing to reclaim the $100,500 support zone, Bitcoin continued forming lower highs and lower lows, pointing to a weakening market structure. The analysis outlined a likely brief consolidation between $95,000 and $97,000 before the downtrend resumes. At the same time, the projection highlighted two stages: an initial retest of the mid-$90,000 area, followed by a deeper slide through support levels at $91,500, $89,000, and $86,500. If these levels fail, a move toward $83,000 becomes increasingly likely. Bitcoin hits Extreme Fear  Notably, the bearish outlook comes as the crypto market remains deep in risk-off territory, with the Bitcoin Fear & Greed Index plunging to 10 firmly in Extreme Fear. The reading has held steady, highlighting a month-long deterioration in sentiment; just a week ago, the index sat at 22 and already signaled heightened caution. Crypto Fear & Greed Index. Source: Alternative.me This prolonged slump suggests traders are increasingly anxious amid volatility and broader economic uncertainty. Extreme fear reflects intensified selling pressure and a retreat by many market participants. Historically, similar lows have often aligned with market bottoms as panic peaks and weaker hands exit. For prices, this environment points to a market nearing a… The post Bitcoin flashes more crash signals as path to $83,000 emerges appeared on BitcoinEthereumNews.com. As Bitcoin (BTC) struggles to hold above the $95,000 support zone, the cryptocurrency appears primed for deeper losses toward the $80,000 region. According to analysis by Ali Martinez, Bitcoin has broken below a key ascending channel, a structure that had supported price action throughout previous months. The breakdown is significant because it signals a shift in momentum from consolidation to a more pronounced bearish trend. In an X post on November 16, the analyst noted that this move “opens the door to a drop toward $83,500,” marking one of the most bearish near-term projections since the recent market correction began. Bitcoin price analysis chart. Source: TradingView After failing to reclaim the $100,500 support zone, Bitcoin continued forming lower highs and lower lows, pointing to a weakening market structure. The analysis outlined a likely brief consolidation between $95,000 and $97,000 before the downtrend resumes. At the same time, the projection highlighted two stages: an initial retest of the mid-$90,000 area, followed by a deeper slide through support levels at $91,500, $89,000, and $86,500. If these levels fail, a move toward $83,000 becomes increasingly likely. Bitcoin hits Extreme Fear  Notably, the bearish outlook comes as the crypto market remains deep in risk-off territory, with the Bitcoin Fear & Greed Index plunging to 10 firmly in Extreme Fear. The reading has held steady, highlighting a month-long deterioration in sentiment; just a week ago, the index sat at 22 and already signaled heightened caution. Crypto Fear & Greed Index. Source: Alternative.me This prolonged slump suggests traders are increasingly anxious amid volatility and broader economic uncertainty. Extreme fear reflects intensified selling pressure and a retreat by many market participants. Historically, similar lows have often aligned with market bottoms as panic peaks and weaker hands exit. For prices, this environment points to a market nearing a…