Bitcoin's price action is currently forming a classic bearish continuation pattern, trading below a widening megaphone structure. This technical setup typically signals a higher probability of further downside movement.

Should the anticipated decline materialize, the $74,000 – $77,000 range is projected as the next significant support zone. A strong rebound from this area would be logical, given that such a move would push Bitcoin into deeply oversold territory according to several key indicators.

While no market outcome is guaranteed, the current chart structure is displaying clear cautionary signals.

The immediate focus is on whether a relief rally is already in progress. Until a confirmed reversal pattern emerges, it is prudent to prepare for multiple potential scenarios.
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