$BTC Drops 5% — Is the $80K Support About to Break?
Bitcoin has declined more than 5% over the past three days and lost the $81,950–$82,960 Support Zone.
BTC has started reacting from the 50_SMA(Daily), but several macro and market risks continue to support the bearish scenario.
Macro Pressure
Several factors could keep Bitcoin under pressure:
• High Liquidation Volume: Elevated leverage increases the risk of sharp moves and additional forced liquidations.
• Bitcoin Options Expiry: Upcoming expirations could create further volatility around the $84,000 area.
• Oil Above $100: Higher energy prices could reinforce inflation concerns and maintain a Risk-Off environment.
• Middle East Tensions: Continued geopolitical uncertainty remains another important risk factor.
• Weak U.S. Equities: Further weakness in the S&P 500 and other major indices could add pressure to Bitcoin.
Technical Analysis
From a classical technical perspective, Bitcoin appears to have broken below the Neckline of a Double Top Pattern, increasing the probability of further bearish continuation.
From an Elliott Wave perspective, BTC appears to be developing a Five-Wave Bearish Structure.
Wave 4 could fluctuate inside the $80,000–$83,000 range before Wave 5 develops.
The critical area is now the $79,180–$80,130 Support Zone.
If buyers fail to defend this structure and BTC confirms a breakdown, the decline could accelerate toward the key $77,550 trading level.
Trade Setup
First TP: $80,300
Second TP: $78,300
Stop Loss: $83,400
Key Levels: $84,000 | $77,550
Short Liquidation: $84,280–$85,000
Long Liquidation: $79,180–$80,000
For now, the $80,000 psychological level and 50_SMA(Daily) are the main defenses standing between Bitcoin and another bearish leg.
Which level will Bitcoin reach first?
🔴 $78,300
🟢 $83,400
#bitcoin
Bitcoin has declined more than 5% over the past three days and lost the $81,950–$82,960 Support Zone.
BTC has started reacting from the 50_SMA(Daily), but several macro and market risks continue to support the bearish scenario.
Macro Pressure
Several factors could keep Bitcoin under pressure:
• High Liquidation Volume: Elevated leverage increases the risk of sharp moves and additional forced liquidations.
• Bitcoin Options Expiry: Upcoming expirations could create further volatility around the $84,000 area.
• Oil Above $100: Higher energy prices could reinforce inflation concerns and maintain a Risk-Off environment.
• Middle East Tensions: Continued geopolitical uncertainty remains another important risk factor.
• Weak U.S. Equities: Further weakness in the S&P 500 and other major indices could add pressure to Bitcoin.
Technical Analysis
From a classical technical perspective, Bitcoin appears to have broken below the Neckline of a Double Top Pattern, increasing the probability of further bearish continuation.
From an Elliott Wave perspective, BTC appears to be developing a Five-Wave Bearish Structure.
Wave 4 could fluctuate inside the $80,000–$83,000 range before Wave 5 develops.
The critical area is now the $79,180–$80,130 Support Zone.
If buyers fail to defend this structure and BTC confirms a breakdown, the decline could accelerate toward the key $77,550 trading level.
Trade Setup
First TP: $80,300
Second TP: $78,300
Stop Loss: $83,400
Key Levels: $84,000 | $77,550
Short Liquidation: $84,280–$85,000
Long Liquidation: $79,180–$80,000
For now, the $80,000 psychological level and 50_SMA(Daily) are the main defenses standing between Bitcoin and another bearish leg.
Which level will Bitcoin reach first?
🔴 $78,300
🟢 $83,400
#bitcoin