Bitcoin (BTC) needs to form a higher low above $75,500 to maintain a structure similar to 2023, according to trader Killa. The preferred scenario is for BTC to hold the support zone around $80,000.

During the 2023 trend, Bitcoin formed a higher high on the weekly chart, then pulled back to confirm the previous price zone as support before continuing higher. According to Killa, a repeat of this structure depends on support being confirmed after the current decline.

Killa believes recent short-term price action may be related to liquidity-grabbing moves. BTC had restored its short-term structure around $82,000, then returned to retest it before breaking down again, repeatedly signaling both resistance breakouts and support breakdowns.

According to the scenario Killa outlined, BTC needs to form a higher low and begin a new upward move. Otherwise, the correction could extend below $80,000.

Source: https://tintucbitcoin.com/bitcoin-co-xu-huong-san-duoi-ngan-han-ho-tro-tai-75-500-usd/

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