Bitcoin moved lower after a clear rejection at the $93,110 bearish order block. The move followed a precise reaction at the 0.618 Fibonacci retracement at $91,041. Crypto Patel shared the update on X alongside a detailed chart. The drop pushed Bitcoin to $85,700 and placed $76,342 as the next target. The bearish invalidation shifted to $93,110 from $106,450, creating a tighter structure.
The decline came after Bitcoin broke below a multi-month ascending trendline. That trendline supported strong rebounds in May, June, and August. Bitcoin retested it in late October and was rejected sharply. The chart showed a fast 35,160.6-point decline, equal to 30.37%. A large displacement candle captured the move.