Bitcoin dips again below 80,000 USD, where are the key support and resistance levels?

Bitcoin is playing with fire again! Yesterday it plunged 7%, scaring the crypto community into a panic. Now Bitcoin is swinging on the cliff of 78K, and this bearish-dominated trend has intensified market panic, increasing investors' expectations for a price decline, with some even discussing whether Bitcoin will break below the psychological level of 60,000 USD.

Technical Analysis: Key Support and Resistance

From a technical perspective, Bitcoin's price is at a critical juncture. After the high volatility from November 20, 2024, to February 24, 2025, the price has formed a potential double top pattern—a typical bearish signal. After breaking the neckline of the double top, the price has retraced from a peak of $82,000 to around $76,000, with volatility nearing the expected target (about 10%), but the time dimension has yet to be fully digested.

There may be two possibilities:

First: Time for Space If $78,000 becomes the bottom, both bulls and bears need to patiently wait for two to three months to confirm the trend. Currently, the range between the 50-day moving average (about $77,500) and the 200-day moving average (about $72,000) has become the focal point of short-term speculation. If the price can hold at $78,000, it may form a W bottom pattern, laying the groundwork for a subsequent rebound.

Second possibility: Further decline If bearish forces prevail, the price may drop to the left side trading dense area of $70,000-$72,000. This area is not only the support level of the 200-day moving average but also an important retest level after the low point rebound in August 2024.

It's incredibly exciting, and various technical analysts are in a frenzy

🎢 Technical analysts urgently drawing symbols:

Either lie flat at 78K and play dead for 3 months (W bottom beauty treatment)

Or continue to slide down to 70K (Bears have already set their traps)

🤖 On-chain friends quietly accumulating:

Old investors are starting to secretly stock up (an average of 5,000 coins mysteriously disappearing daily)

But ETF big shots are running for the hills (net outflow of 500 million USD in March)

😱 Emotion detector:

The market has switched from "extreme greed" to "chicken mode" in seconds

Liquidation orders are flying everywhere (600 million USD fireworks show in 24 hours)

Trump-themed coins surprisingly become the biggest winners (Trump coin skyrocketed 85%)

⚠️ Survival Guide:

Don't believe the nonsense of "this time is different"

Keep an eye on the 75K golden ratio line (Buddhist-style holding coin barrier)

Remember Buffett's ancestral secret: When others wet their pants, you find pants to sell!