BITCOIN Breaking Down – Is $78K Inevitable?COINBASE:BTCUSD is continuing its bearish trend after rejecting from the resistance level within the descending channel. The price formed a converging triangle at this level and broke out to the downside, confirming strong selling pressure.
If sellers maintain control at this level, we could see a drop toward the $78,000 level, which aligns with a key support level. This zone could serve as a short-term target within the current bearish market structure. However, failure to break below this support zone could invalidate the bearish outlook and signal a potential rebound.
Traders should monitor bearish confirmation signals, such as weak pullbacks, lower highs, or increasing selling volume, before entering short positions.
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