Bitcoin's chart history suggests more downside is likely after it broke below last month's low, which is bad news for holders hoping for a quick rebound.

• Going back to 2011, every time Bitcoin broke a prior month's low, the slide continued further about two-thirds of the time, with a typical extra drop of around 10%.
• One in four of these breaks turned into a much deeper plunge of 22% or more below the low.
• Key price zones to watch on the way down are near the daily 200-day average and a lower support area below that.
• If Bitcoin also loses its September low, the mid-60,000s range becomes a realistic downside target.

Outlook: Unless Bitcoin reclaims the broken monthly low soon, history points to further losses toward the mid-60,000s.

## Bitcoin Levels

• **Bias:** Bearish
• **Support:** $73,700 (daily 200 simple moving average); $68,100
• **Targets:** Mid-$60,000s
• **Invalidation:** Reclaiming the September low / prior monthly low