Bitcoin (
$BTC ) Analysis: Is a Drop Below $80,000 Incoming❓📉
While Bitcoin has been looking bearish lately, the real question is: Will the dump continue below $80,000?
The Technical Setup 👇
Recently, Bitcoin has been consolidating in a pattern that resembles either a Rising Wedge or a Bear Flag. Both are traditionally bearish signals. We have already seen a breakdown from this pattern followed by a successful retest. On Sunday, the price began to drop again, confirming the bearish momentum. This volatility suggests a potential road toward a sharp correction and lower support levels below $80,000.
We must be prepared for a sudden move. When Bitcoin dumps with high volume, most altcoins follow suit. A sharp drop in
$BTC often leads to a market-wide decline and massive liquidations for leveraged traders. Remember: risk management is always better than a major loss.
Here's the key levels I am watching !
I am closely monitoring these two scenarios:
The Bullish Case (Invalidation): For an upside move, I am watching the previous retest level at $91,300. If Bitcoin reclaims and holds above this level, the bearish thesis is invalidated, and we can expect a recovery.
The Bearish Case (Confirmation): I am watching the current support zone between $85,000 and $86,000. If buyers lose this level, the bearish case becomes much stronger.
So trade with a plan and use proper risk management. A small, controlled loss is much better than a Big one. Ensure you have clear entry and exit strategies to survive Here 👍!!
#BTC #analysis #bearish