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Market variability, driven by a ongoing tariff war, meant that Bitcoin (BTC) traded below USD 75,000 for the first time since November. Despite recovery after a decline, the flagship cryptographic risk is a greater compact -term variability if he does not regain key support levels soon.
Bitcoin hits a 5-month minima
Bitcoin ended the week with a price drop below the USD 80,000, closing the Sunday below 78,500 USD. In the early hours of Monday, the largest cryptocurrency of market capitalization continued to bleed towards the support zone worth 74,500 USD before bounce.
Among the 9.1% of Bitcoin correction, he registered the lowest trade price in five months, touching the levels of November 6. Daan Crypto Trades, a market observer, noticed that BTC has been trading below his bull market support team for several weeks, trying to regain this level, but eventually faced rejection.
According to the trader: “This is a good measure to evaluate a high time market. So far this cycle, the price has exchanged it several times (2023 and 2024), but he never mentioned it for much more than ~ 20%”, suggesting that Bull would like to recover this region.
Rekt Capital analyst excellent This current BTC correction is “very similar to equalizing the depth of withdrawal after pulling out almost -33%”. In the ongoing retreat, Bitcoin has fallen by 31% since January (ATH) by USD 108,786. However, he believes that Bitcoin may bleed to support $ 70,000 before reaching the DNA of correction.
“Whenever the daily RSI Bitcoin crashed at RSI levels below 28 -it would not necessarily mean the bottom of the price. In fact, the historically actual lower price would be -0.32% to -8.44% lower than the price when the first bottom”. He explained, adding that Bitcoin would be the second low, 2-79% below the first low.
If it has the same pattern and falls by 8.44% below the first low level, investors could see the lowest Bitcoin price at around 69,000–70,000 USD.
Another 10% correction?
In addition, the capital is elementary outlined Key levels to recover after a weekly closing BTC below 80,650 USD. The analyst noticed that Bitcoin already “Wickside has been at this level to mark it as a potential new resistance” this week.
As a result, he must regain a close level last week, if BTC wants to question the weekly downward trend in 2025, and must maintain Sunday daily level close to 78,500 USD.
Bitcoin did not close every day above the inheritance. In fact, Price still created up-to-date lower levels in the already extended series of lower maximas. At the latest rejection, BTC landed in ~ 78,500 low $. Continue maintaining this level as support, and BTC has a chance to challenge USD 82,500 in the compact period.
The analyst described in detail that Bitcoin must generally close above 78,500 USD to “build a base for a potential short -term reflection here.” On the contrary, in the daily closure below this level, BTC would be set to bear after closing under it for two consecutive days.
He came to the conclusion that “the transformation of this level into confirmed resistance would cause an additional continuation of declines”, which is focused on a high price rating from 69,000 to 72,000 USD.
Since then, BTC has been trading at USD 79,200, which is a 1% escalate in daily time frames.
A distinguished painting with unmplash.com, chart from tradingview.com
