Bitcoin Crash Sparks Panic—Do We Need to Worry?
BTCUSDT closed its February candle with a strong bearish engulfing pattern. This caused panic among investors, especially newcomers. We haven't had a crash bigger than this since June 2022, when Bitcoin lost about 37% of its value over a month.Bitcoin Crashes Aren’t New
If you’ve been in crypto for a while, you know the drill—Bitcoin pumps hard, everyone gets excited, and then, boom, a massive correction wipes out billions in minutes. It’s brutal, but it’s also nothing new. BTC has had countless crashes, sometimes dropping 30–50% before recovering and reaching new highs.
What Happens Now?
Although the monthly candle closed with a bearish engulfing pattern, it’s far from enough to signal the end of a long-term bull trend. This crash is nothing more than a correction on higher timeframes. I expect this correction to continue for at least one more leg to the downside. After that, I believe the price will find support between $60,000 and $70,000 and resume its upward trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.