Bitcoin has rebounded from recent losses but is still struggling to maintain an upward trend, prompting some analysts to predict a potential decline to around $65,000. Following a drop to approximately $76,600 on March 11, Bitcoin's price is down roughly 25% from its record high of $110,000. Analysts are noting bearish signals, such as the recent 'dark cloud cover' pattern, indicating that buyer momentum is fading. After testing resistance around $86,000-88,000, Bitcoin is suggested to be vulnerable to lower support levels around $77,000-79,000. If these levels fail to hold, analysts expect a further decline towards the $65,000-74,000 zone. Furthermore, Bitcoin’s price trends may be influenced by its correlation with traditional equity markets, with both the S&P 500 and Nasdaq 100 showing bearish patterns. A break below established support levels could trigger a deeper sell-off in the coming weeks.

Source 🔗