The drop continues 🩸
Bitcoin has fallen another 9% overnight, reaching $87,000.
👀 As a result, the price has broken below the main liquidity block at $93,000, wiping out nearly all long traders from the market, with total liquidations reaching $1.5 billion.
🔼 The price has now touched the last key local support level at $87,000. Technically, there’s an 80% chance of a bounce from this level, as we’ve seen a sharp decline without any pullbacks, market fear has hit an extreme 25, and overall sentiment has turned highly negative. These factors suggest a potential reversal to the upside.
📊 Current scenarios:
🔸 $88,000 - $87,000 is the key zone to watch for a possible rebound.
🔸 If the price fails to hold, a deeper drop to $80,000 - $75,000 could follow, as there are no nearby support levels.
For now, there’s no need to focus on the worst-case scenario. Let’s wait for the market’s reaction at this level before drawing conclusions. ⚡️
