Bitcoin (BTC) bounced up to 14% after immersion to a four -month low level nearly 76,600 USD on March 11. But the price of BTC has dropped by about 25% compared to a record level by about USD 110,000, which is normal for “bull market correction”.

Despite this, some analysts predict that the price of bitcoins will fall in the future.

“Dark Cloud” indicates Bitcoin

Bitcoin faces the renewed pressure of the bear after rejection of USD 87,470, resistance on the decreasing channel, with the “dark cloud” pattern strengthening leaving, as analyzed, as analyzed common by GDxtrader on X.

The pattern of murky clouds occurs when a red candle occurs after a forceful green candle, which opens above the previous closure, but closes below the middle of the body of the first candle.

Such a change in moods indicates that the buyers tried to push higher, but they were overwhelmed by sellers, often leading to further decline.

The lack of closing Bitcoin in the retaining zone of 90,000 to 93,000 USD suggests a lack of conviction to buy, noticed GDxtrader, claiming that the cryptocurrency will remain under the pressure of the bear, unless it definitely breaks above the aforementioned range.

BTC price “perfect rejection” risk of USD 65,000

Bitcoin’s potential for inheritance results from his “perfect rejection” after testing the zone $ 86,000-88,000 as resistance, in accordance with analysis from the popular salesman Credibull Crypto.

Related: This is why the price of bitcoins cannot enhance than $ 87.5,000

In particular, Bitcoin tried to break towards the local supply zone marked in red, but it was not possible to maintain the above -mentioned resistance zone, illustrated with an orange circle in the chart below.

The lack of recovery of the supply zone increased the likelihood of a decline towards lower support by about 77,000–79,000 USD (highlighted in green) until March. Testing this area as a support led to rapid price collections in March.

Nevertheless, if this support zone breaks, a deeper traffic below the region 77,000–79,000 USD may extend to an area of ​​65,000–74,000 USD-the largest zone of green liquidity in the above chart-in April.

George analyst common Similar perspectives as shown below.

“It is difficult to remain stubborn” with the pattern of the bear flag

According to the analyst CryptopusBitcoins remain strictly correlated with time-honored capital markets, especially S&P 500 (SPX) and NASDAQ 100 (NDX), from which both of which display the patterns of bear flags on the charts.

The bear flag is created when the price consolidates higher in the growing parallel channel. It solves this if the price breaks below the lower trend line and drops as much as the enhance in the previous action.

BTC follows a similar structure of the bear flag, and USD 84,000 acted as lower support of the trend line. The break below this threshold may cause a deeper sale compared to USD 72,000 according to the technical rule explained above.

In addition, Bitcoin correlation with shares increased due to a broader decrease in risk moods, led by the global trade war of the US President Donald Trump.

Arthur Breitman, co -founder of Tiesos, called the US recession one of the greatest threats of the external cryptographic market.

This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.