Bitcoin pullback: bearish price targets
Bitcoin is cooling off after a run-up, which is mildly bad news for short-term traders but still fits a bigger bullish trend.
- Bitcoin is dropping toward support just above $76,000, where a pile of trader liquidity is sitting and likely to get swept.
- The pullback was expected: price hit resistance near $80,000-$82,000, got overbought, and formed a bearish divergence on the daily chart.
- Longer term still looks bullish, with the weekly chart holding the bullish setup that started near $60,000 two months ago.
- Even a deeper drop to the mid-$60,000s could build a bigger bullish pattern rather than break the trend.
- Ethereum is stuck under resistance near $2,520, XRP is leaning on $130 support, and Solana is testing $96-$99.
Outlook: A few more days or weeks of weak, choppy trading are likely before the larger uptrend can resume.
## Bitcoin Levels
- **Bias:** Bearish short term (days to weeks), bullish on the weekly time frame.
- **Buy / accumulate:** $76,000-$76,500 zone; deeper dip zone $73,000-$75,000; mid-$60Ks (~$65,000) as a bigger-picture buy.
- **Support:** just above $76,000 (liquidity at $76.1K), then $73,000-$75,000.
- **Resistance:** $80,000-$82,000.
- **Targets:** downside $76.1K near term; upside back toward $80,000 and a breakout above the highs after that.
- **Invalidation:** sustained break below $73,000 opens the mid-$60Ks; losing the mid-$60Ks would break the larger bullish setup.