Will Bitcoin still fall? How low will it go?
On the 8th of March, I mentioned that Bitcoin was forming a triangular pattern. Yesterday, Bitcoin broke below the triangle, and now it has already fallen below the previous low on the four-hour chart. The next target position is at 78256, and if it breaks below this level, Bitcoin will see the support area around 72000. Therefore, if Bitcoin shows a rebound next, we need to pay attention to the support-resistance swap level. As it stands, as long as Bitcoin does not return to within the triangle, I am not bullish.