Bitcoin Price Dips Below Trendline: What’s Next?

Bitcoin dips below trendline, sparking concerns. Can it recover, or is $81K Kijun support next? Here’s the latest analysis.

  • Bitcoin breaks below trendline, triggering market speculation.
  • The weekly candle still has five days to reclaim its position.
  • Kijun support at $81,000 could be the next key level.

Bitcoin Dips Below Trendline: Market Makers at Play?

Bitcoin has broken below its key trendline, sparking concerns among traders. The price has also dipped beneath the last wick low, a move often attributed to market makers manipulating liquidity. However, the bigger picture still holds uncertainty, as Bitcoin’s weekly candle has five more days before closing.

A potential recovery is still on the table, and traders are watching to see if Bitcoin can reclaim its trendline before the weekly close. If it fails to bounce back, the next major support level lies at the Kijun indicator, sitting at $81,000.

Will Bitcoin Reclaim the Trendline?

Historical price action suggests that Bitcoin often experiences temporary breakdowns before reversing. A reclaim of the trendline could signal bullish momentum returning, but if the breakdown persists, a further decline toward $81,000 is likely.

Traders should watch for confirmation signals such as volume spikes, price rejections at lower levels, and key moving averages to gauge Bitcoin’s next move. The coming days will be crucial in determining the short-term trend.

Final Thoughts

While Bitcoin’s dip below the trendline is concerning, there’s still time for recovery before the weekly candle closes. The next major support level at $81,000 remains a key area to watch. Traders should remain cautious and monitor price action closely.

Disclaimer: The content on CoinoMedia is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency investments carry risks, and readers should conduct their own research before making any decisions. CoinoMedia is not responsible for any losses or actions taken based on the information provided.

Isolde Verne

Isolde Verne is a passionate crypto writer, focusing on blockchain innovation, NFT ecosystems, and the societal impact of decentralized systems. Her engaging style bridges the gap between technology and everyday understanding.

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