This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

We've probably all heard this phrase: "Once is an accident, twice is a coincidence, three times is a pattern."

The old saying is perfectly applicable to the bitcoin (BTC) market, where the crash on Friday marked the third time bulls failed to maintain gains above the critical trendline drawn from the 2017 and 2021 highs, raising the possibility of a deeper drop to $100,000 or lower.

This repeated inability to hold above that level highlights a persistent resistance, suggesting that the trendline is now a key battleground likely defining the limits of the bullish strength in this cycle. CoinDesk highlighted the trendline resistance a month ago, noting that bulls had twice failed to maintain gains

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