๐จ Bitcoin loses $80,000... Will the decline continue? | $BTC
Bitcoin plunged, reaching $78,210, amid pressure from financial markets and the liquidation of large long positions.
๐ Whatโs causing the decline?
- The Fed held interest rates steady, but two members dissented, adding uncertainty about the next move.
- A drop in technology stocks pressured the crypto market.
- Breaking below $80,000 accelerated the liquidation of long positions, adding to selling pressure.
- $10.9 billion worth of options contracts expire tomorrow, with max pain near $78,000.
๐ฏ Key levels:
๐น Support: $78,210 โ $78,000
๐น Resistance: $79,086 โ $80,000
๐ Whatโs next?
We may see a short-term rebound after this drop, but continued trading below $80,000 would keep the pressure on. A break below $78,000 could open the door to further declines.
Will we see a rebound or a new wave of declines? ๐
#bitcoin #BTC #Binance #ุชุญููู_ููู
Bitcoin plunged, reaching $78,210, amid pressure from financial markets and the liquidation of large long positions.
๐ Whatโs causing the decline?
- The Fed held interest rates steady, but two members dissented, adding uncertainty about the next move.
- A drop in technology stocks pressured the crypto market.
- Breaking below $80,000 accelerated the liquidation of long positions, adding to selling pressure.
- $10.9 billion worth of options contracts expire tomorrow, with max pain near $78,000.
๐ฏ Key levels:
๐น Support: $78,210 โ $78,000
๐น Resistance: $79,086 โ $80,000
๐ Whatโs next?
We may see a short-term rebound after this drop, but continued trading below $80,000 would keep the pressure on. A break below $78,000 could open the door to further declines.
Will we see a rebound or a new wave of declines? ๐
#bitcoin #BTC #Binance #ุชุญููู_ููู
