Trader Eugene: Bitcoin still has room to go down and may test the key psychological level of $66,000

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ODAILY
03-13
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Odaily News reports that renowned trader Eugene stated that the overall trend of Bitcoin (BTC) is still bearish, and the high time frame (HTF) has not yet seen enough market panic to complete the deep cleansing of this cycle. Eugene believes that although BTC has some support around $76,000, and may even form a in the $74,000-$76,000 range, the probability of this is gradually decreasing. He pointed out that the bullish trend or range of Bitcoin has been broken in all time frames, and $75,000 is the last important support. Furthermore, he believes that the market will eventually test the $66,000 psychological level that MicroStrategy founder Michael Saylor has in mind, and observe the market's performance at this level. At the same time, due to the strong correlation between BTC and US stocks, he expects that there will be no reversal in the short term due to the remarks of Trump, Bessent or Fed Chairman Powell. Eugene also said that if the US PPI data performs well tonight and pushes Bitcoin to rebound above the high of $80,000, he may consider at the high level.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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