Bitcoin breaks bearish flag: What are the next supports?
Bitcoin (
$BTC )** has confirmed the movement that many traders feared. After losing the support line of the **bearish flag** structure around **US\) 76,500, selling pressure increased and the market is now looking for new liquidity zones.
If you’re holding long or waiting for the best moment to accumulate, keep a close eye on these 3 chart levels:
1️⃣ Immediate Support: US\( 74,500 )
This is our first "floor." It's a region of strong recent institutional interest. If the bulls defend this range, we could see a short-term technical rebound to retest the old resistances.
2️⃣ Intermediate Support: US$ 71,400
If selling pressure continues strong and breaks below US\( 74k, the next natural stopping point is the region of US\) 71,400, where long moving averages and important retracement zones converge. It’s a well-targeted area for long-term buyers.
3️⃣ Macroeconomic Support: US$ 68,700
The ultimate "floor" on the medium-term chart. A drop down to here would shift short-term sentiment to bearish but would open up a massive accumulation zone (the famous Buy the Dip).
⚠️ What to expect now?
The former support line now acts as strong resistance. Any rise without significant buying volume could just be a "dead cat bounce" before further declines. Stay sharp on risk management!
💬 And you? Do you think US$ 74,500 will hold the price, or are we heading for lower levels? Leave your analysis in the comments!
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