{"id":21750,"date":"2025-04-11T20:01:38","date_gmt":"2025-04-11T20:01:38","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21750"},"modified":"2025-04-11T20:01:38","modified_gmt":"2025-04-11T20:01:38","slug":"bitcoin-price-stalls-below-85000-psychological-level-why-a-drop-to-74000-is-possible","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21750","title":{"rendered":"Bitcoin Price Stalls Below $85,000 Psychological Level, Why A Drop To $74,000 Is Possible"},"content":{"rendered":"
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Crypto analyst Saeed has outlined a bearish case for the Bitcoin price<\/a>, predicting that it could still drop to as low as $74,000. The analyst highlighted the $85,000 psychological level as being key to whether BTC drops to this target or witnesses another breakout to new highs.\u00a0<\/p>\n

Bitcoin Price Risks Drop To $74,000 If This Happens<\/h2>\n

In a TradingView post<\/a>, Saeed mentioned a drop to $74,000 as his bearish scenario for the Bitcoin price. He explained that if price fails to break out and instead drops below $80,000, a correction would unfold toward $76,500 or even $74,000, which would present a re-entry opportunity for long-term bulls<\/a>.\u00a0<\/p>\n

The analyst also noted that the Bitcoin price is currently consolidating just below the psychological $85,000 level after a historical bull run which pushed it to new all-time highs (ATHs)<\/a>. Despite the recent downtrend, Saeed is optimistic that the bull run is still on. He stated that the market is cooling off and not crashing, with price action forming a high-tight flag, often a continuation signal after an uptrend.\u00a0<\/p>\n

However, the bearish scenario still stands with a potential drop to $74,000<\/a>. Saeed remarked that with momentum slowing and volatility compressing, traders must prepare for a major breakout and breakdown in the coming days. He affirmed that the potential drop to this target is still healthy in the broader trend.\u00a0<\/p>\n

\"Bitcoin\"<\/p>\n

Analyzing the trend structure, the crypto analyst also confirmed that the Bitcoin price remains in a strong bullish trend. He noted that since the breakout above $69,000, the previous ATH from 2021, the rally has been aggressive and directional, overwhelming the BTC bears in the process.\u00a0<\/p>\n

Saeed further remarked that the Bitcoin price has formed a series of higher highs and higher lows, respecting a steep ascending trendline since early February. However, BTC is now coiling near the highs, forming a tight range between $80,000 and $83,500.\u00a0<\/p>\n

Bullish Scenario For BTC<\/h2>\n

Saeed also outlined a bullish scenario for the Bitcoin price<\/a>. He stated that a breakout and daily close above $85,000 would confirm the continuation pattern, targeting $88,000 first and then $90,000. The analyst added that volume and candle structure will be key to confirming the move.\u00a0<\/p>\n

Meanwhile, the crypto analyst highlighted key resistance and support zones<\/a> to watch out for. He stated that the range between $83,000 and $85,000 is the immediate resistance as this area has repeatedly capped prices in recent sessions. As such, a daily close above this zone could trigger the next leg higher.\u00a0<\/p>\n

$88,000 is another resistance zone, although that is the short-term if BTC were to rally higher. Saeed mentioned the range between $90,000 and $92,000 as the third resistance zone to watch out for. He stated that this range is a psychological milestone and a possible magnet for the Bitcoin price if bulls break out cleanly.\u00a0<\/p>\n

Saeed mentioned $80,000, $76,500, and the range between $72,000 and $74,000 as the key support zones to watch out for. He remarked that the range between $72,000 and $74,000 is the major support and ideal retest level if the Bitcoin price corrects, as this is the level where many sidelined bulls are likely waiting to buy in.\u00a0<\/p>\n

At the time of writing, the Bitcoin price is trading at around $80,500, down almost 2% in the last 24 hours, according to data<\/a> from CoinMarketCap.<\/p>\n

\"Bitcoin\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Crypto analyst Saeed has outlined a bearish case for the Bitcoin price, predicting that it could still drop to as low as $74,000. The analyst highlighted the $85,000 psychological level as being key to whether BTC drops to this target or witnesses another breakout to new highs.\u00a0 Bitcoin Price Risks Drop To $74,000 If This […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-21750","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21750"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/21750\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}