From a technical perspective, the market's decline was predicted by several key chart patterns. Analysts point to the "Head-and-Shoulders" breakdown on the Bitcoin daily chart, which was confirmed when the price slid below the $80,000 neckline in late January. This classic bearish reversal signal has played out perfectly, leading to the current 13% year-to-date decline. Furthermore, many assets are now trading below their "Liberation Day" levels—the prices seen during the late 2024 political shifts. Until Bitcoin can sustain a reclaim of the $78,000 resistance zone, technical traders remain sidelined, viewing any small jumps as temporary "relief rallies" in a larger downtrend.
BTC
66,355.1
-4.32%