Bitcoin still remains weak, breaking below 77,600. The area around 75,500 is the second target on the 4-hour chart plus daily support. There might be a rebound here, so consider going long. The resistance levels above are 78,500 and 79,400. The long-term trend is still bearish, but dropping to 40k or 50k is almost impossible.

The reason is simple: to crash the price to this level, hundreds of thousands of Bitcoins would need to be sold. Institutions can't create a deep pit to force retail investors to buy the dip. Now, retail investors have also learned to be smart; at this level, they are selling houses, cars, and buying spot. So, 60k is almost the bottom of this cycle.