Guys, Bitcoin is dropping deeper again into the $69,000 area, and the crypto market is also on fire.

Many people are asking, where is BTC headed next?

Bear or Bull?

Let's break it down technically 👇🏻

Technically, BTC has just broken down from the ascending channel that has been forming since the February bottom. Price also failed to hold above the Fib 0.5 area around $71.3K.

What's interesting is that this pattern is starting to resemble a bear flag, which is a pattern where the price briefly rises after strong selling pressure, but eventually breaks down again and potentially continues lower.

Right now, the key level to watch is the $68K area, the Fib 0.618 level.

Why is it important? Because the Fib 0.618 area often acts as a decisive boundary for whether BTC can still bounce higher or if the correction will deepen.

If BTC can hold above $68K, the chances of a rebound are still there. But if it breaks below, the next targets are $64K, followed by $60K as a major support level.

NFA, DYOR.U 🚀
#BTC #BitcoinETFSees7272BTCOutflow