BTCUSD Bitcoin Approaches $80k Support: Will It Hit $73,767?
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Bitcoin is below 82K, indicating a potential higher correction to $80K on fear and uncertainty. Bitcoin is experiencing a sharp correction as liquidations in the crypto market reached as high as $217 million in the past 24 hours. Over the past four days, Bitcoin has fallen by 6% to as low as $81,287 in a 24-hour period. Currently, Bitcoin is trading at $81,993, showing signs of lower price rejection.
Bitcoin Analysis Warns of Retest Nearing $80K On the daily chart, Bitcoin’s price action shows a massive bearish reversal from an overhead resistance trendline. This places the 67.8% Fibonacci level at $86,145 and the 200-day EMA near $85,500. However, the downtrend has triggered a bearish crossover of the MACD and signal lines, suggesting a steep correction is likely.
However, the prevailing bearish pressure suggests the risk of further downside moves due to increasing fear. According to the Fibonacci levels, the immediate support for Bitcoin is near $80,000 at the 50% Fibonacci level. A breakdown below this support could result in a retest at the 38.2% Fibonacci level at 73,767. On the other hand, if Bitcoin manages a bullish rebound, it could aim to retest the 200-day EMA at $85,452. BTCUSDBTCUSDTBTCUSDT.PBTCUSDT.PBTCUSD
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The latest CME gap between 82,850 - 83,910 is acting as a strong resistance, with BTC remaining in a bearish trend. A failed bullish flag has broken downward, targeting 80,200.
🔻 The breakdown was driven by macroeconomic factors, including new tariffs and a stock market downturn, increasing risk-off sentiment across global markets.
🔻 If 80,200 fails to hold, further downside movement toward lower support levels is likely.
BTCUSD A lesson for the future: don’t trust articles about whale accumulation. If whales were buying massively around 90k or 100k, they wouldn’t have any reason to push the price down by 30%. No institution wants to lose 30% of capital, even for a short time. Ethereum is even worse. Whales are supposedly accumulating, but the price has dropped by 60%. This is not how accumulation works.
BTCUSD Bitcoin Approaches $80k Support: Will It Hit $73,767?
82K, indicating a potential higher correction to $80K on fear and uncertainty. Bitcoin is experiencing a sharp correction as liquidations in the crypto market reached as high as $217 million in the past 24 hours. Over the past four days, Bitcoin has fallen by 6% to as low as $81,287 in a 24-hour period. Currently, Bitcoin is trading at $81,993, showing signs of lower price rejection.
