Bitcoin Falls Into 'Extreme Fear': How Low Will It Go?

💡 DMK Insight

Bitcoin’s recent 13% drop in 30 days is a wake-up call for traders: caution is key. With BTC currently at $78,401, the charts indicate potential resistance around the $80,000 mark, which could act as a psychological barrier. If BTC fails to reclaim this level, we might see further downside, possibly testing support levels below $75,000. Traders should watch for volume spikes or bearish patterns that could signal a continuation of this downtrend. On the flip side, if BTC manages to break above $80,000 with strong volume, it could trigger a short squeeze, leading to a rapid recovery. Keep an eye on the RSI and MACD indicators for signs of oversold conditions, which could provide a buying opportunity if the momentum shifts. The broader market context, including macroeconomic factors and institutional sentiment, will also play a crucial role in BTC’s next moves. In the coming days, monitor the $75,000 support level closely; a break below could lead to increased selling pressure.