This Bitcoin Drop can Continue !!🚨
TL;DR
Technical analyst Ahmed warns that Bitcoin could drop to $60K-$58K if it loses the $65.6K support level, emphasizing a structured bearish setup where traders should avoid shorting breakdowns and instead wait for relief pumps to enter positions, while highlighting that Ethereum and altcoins are too fragile to withstand such a move.
📉 Critical Price Levels 3 insights
Short position secured at $72K local top
Ahmed established short positions at the $72,000 resistance level and is currently waiting for lower prices as the downtrend toward $60K continues.
$68K Point of Control acts as pivotal resistance
The volume profile indicates $68,000 is where the most volume was traded, and Bitcoin must hold this as resistance to maintain bearish momentum toward lower targets.
Loss of $65.6K support opens path to $60K
If Bitcoin fails to hold the $65,600 support zone, the next likely destination becomes $60,000 or potentially $58,000 to fill the liquidity wick from prior price action.
⚠️ Trading Execution Strategy 3 insights
Never short support breakdowns directly
Traders should avoid opening new short positions immediately after a support level breaks to prevent getting caught in fakeout reversals and liquidations.
Only consider longs on reclaim patterns
A potential scalp long could trigger if Bitcoin drops to $65,500 and then reclaims $66,000 with a stop loss below the wick, though this is a counter-trend play with limited upside.
Maintain core short positions from higher levels
Ahmed holds multiple shorts from $72K, $96K, $106K and the all-time high, demonstrating the strategy of building positions at tops rather than chasing breakdowns.
🚨 Altcoin Market Fragility 3 insights
Ethereum shows extreme weakness against Bitcoin
The ETH/BTC pair is exhibiting a super bearish structure, suggesting Ethereum will likely underperform and drop significantly harder than Bitcoin itself.
Altcoins face severe cascade risk
The altcoin market is described as too fragile to withstand a Bitcoin breakdown, with a potential 10% BTC drop triggering much larger percentage losses across all altcoins.
Correlation means nowhere to hide
If Bitcoin drops to $60K, every single altcoin will follow with substantial drawdowns, offering no safe havens within the crypto market during the move.
Bottom Line
Wait for Bitcoin to lose the $65.6K support level and then look for short entries during relief pumps rather than shorting the initial breakdown, while avoiding any new long positions until price reaches the $60K-$58K zone.
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