Bitcoin and most altcoins are still stuck in a short-term downtrend, which is bad news for anyone expecting a quick bounce, though the longer-term picture remains more hopeful.

• Bitcoin broke below its $80,000-$82,000 support and is now hunting for a lower target near $76,000, which has already been tagged on some exchanges.
• A weak US stock market is dragging crypto down with it, and Bitcoin, Ethereum, XRP, Solana, and Chainlink are all showing the same "bearish divergence" pattern pointing to more weakness ahead.
• If Bitcoin bounces back toward $80,000-$82,000 and then gets rejected again, a bearish chart pattern could form that points toward a much deeper drop, potentially into the $60,000s.
• Despite the near-term pain, the bigger weekly trend for Bitcoin is still intact, similar to the setup seen at the end of the 2022 bear market before the last multi-year bull run.
• Short-term bounces are expected but seen as traps, not the start of a real recovery.

Outlook: More downside or choppy, sideways price action is likely in the near term, with a bounce toward $80,000-$82,000 being the key level to watch for signs the bearish pattern is forming.

## Bitcoin Levels

• **Bias:** Bearish short-term, bullish long-term
• **Buy / accumulate:** $75,000-$76,000 zone (for spot holders looking to buy dips)
• **Support:** $75,000-$76,000, with the key liquidity target at $76,200-$76,300
• **Resistance:** $80,000-$82,000
• **Targets:** Downside target $76,200-$76,300 (already hit on some exchanges); deeper bearish target near $60,000 if a head-and-shoulders pattern confirms
• **Invalidation:** A confirmed break and hold above $82,000 would undercut the bearish setup