Bitcoin Struggles Below $80K – Could a Drop to $40K Be Next?
Just five days ago, I warned of a potential decline to the $75K–$85K range, and now it's playing out exactly as expected! BTC remains stuck between $78K and $84K, unable to break past $85K. The sharp drop from $96K to $78K has shaken the market—will this consolidation lead to a rebound, or is a deeper crash toward $40K on the horizon?
Bitcoin at a Make-or-Break Point – Will It Rally or Decline?
Currently, Bitcoin is trading at $83,854.24, up 0.42%, as it stabilizes following a strong bounce from $78,258.52. Bulls are defending key support, but a breakout or further pullback appears imminent.
Key Levels to Watch:
Resistance: $85,120 – A breakout could push BTC toward $86,000 and $87,500.
Support: $81,698 – A breakdown below this level may lead to a decline toward $79,750.
Strategic Trade Setup:
Long Entry: Above $84,500, targeting $86,000 and $87,500.
Short Entry: Below $81,698, aiming for $79,750.
Stop Loss: $83,000 for longs, $85,500 for shorts.
Market Insight – What's Next for BTC?
MACD: Suggests a potential bullish continuation.
Volume: Increasing buy pressure supports an upward move.
Order Book: 92.04% buyers, indicating strong demand.
Bitcoin is at a crucial turning point—will the bulls regain control, or will sellers drive the price lower? Stay alert!
