Bitcoin Eyes $72,500 Support: Will the Drop Deepen?
— NewsBTC
Bitcoin's trend may worsen if it fails to hold the $72,500 support.
Bitcoin could drop to $72,500 based on technical analysis, with potential recovery if support holds.
- According to Aksel Kibar's analysis, Bitcoin may fall to $72,500, a key support in the ascending channel.
- If Bitcoin holds this support, it could rebound towards the $86,000 resistance area.
- Losing the $72,500 support could push Bitcoin down to $60,000, where a short-term reversal might occur.
The $72,500 support is crucial for Bitcoin's short-term direction; losing it may increase selling pressure.