Bitcoin’s price may face further declines, according to a crypto analyst who has shared a bearish short-term outlook, cautioning that another drop could be imminent. The analyst maintains that Bitcoin’s overall market structure is still negative, leading him to predict a fall to around $76,000—a 20% decrease from current levels.
Crypto market analyst Roman has warned that Bitcoin could be headed for another sharp downturn, with his main target near $76,000. In a post on X, he highlighted that the current market structure shows no signs of a lasting price bottom and that the risk of further losses remains high.
Roman based his bearish view on the daily chart, where Bitcoin has failed to regain strong upward momentum following a significant correction. He also pointed out that the price continues to trade within a broader downtrend, indicating the market might only be pausing before another move lower.
The chart he shared shows Bitcoin trading above $90,000 but still well below the previous resistance area near $96,000. Each attempt to push higher has been met with rejection, suggesting sellers are still in control.
Roman’s analysis indicates that a potential decline could begin with a drop to the mid-$80,000s, followed by a deeper slide to between $78,500 and $75,000. A hand-drawn projection on the chart illustrates a sharp fall after a brief relief rally, implying that Bitcoin’s decline could accelerate once key support levels break.
Trading volume also supports Roman’s bearish perspective. The chart shows notably weak volume during Bitcoin’s recent rebound, which he previously attributed to typical holiday-driven price increases.
Roman’s $76,000 forecast builds on his earlier posts, where he outlined several reasons why Bitcoin is in a bear market and could soon correct further. He cited historical indicator patterns to back his latest prediction.
The analyst explained that Bitcoin’s Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) became extremely oversold after the price fell about 40% from its all-time high. The current consolidation phase has allowed these indicators to reset, but the lack of strong buying pressure during this period is a red flag.
Roman emphasized that a genuine bullish reversal would require increasing volume and clear higher highs, neither of which are visible on the daily chart. He also noted that Bitcoin’s longer-term trend remains bearish, with the market continuing to form lower highs within a declining range. Until clear reversal signals emerge, he advises traders to view any upward moves as temporary corrections rather than the beginning of a new bull market.
Frequently Asked Questions
FAQs Why Bitcoins Price Might Drop Another 20 to 76000
BeginnerLevel Questions
1 What does a 20 drop to 76000 mean
It means that from a recent higher price Bitcoins value could fall by onefifth bringing its price down to approximately 76000
2 Why would Bitcoins price drop like that
Prices can drop due to a mix of factors like large investors selling negative market sentiment regulatory news or a broader downturn across financial markets
3 Is this drop guaranteed to happen
No its not guaranteed Price predictions are based on analysis of current trends and patterns but the crypto market is highly volatile and unpredictable
4 Should I sell my Bitcoin if I hear this
Not necessarily This is a prediction not a fact Decisions should be based on your own investment goals risk tolerance and research not on a single forecast
5 What is support and resistance in trading
Support A price level where buying interest is historically strong enough to prevent the price from falling further
Resistance A price level where selling pressure is historically strong enough to prevent the price from rising further The prediction of 76000 might be based on a key support level
Intermediate Advanced Questions
6 What specific technical indicators might suggest a drop to 76000
Analysts might point to a breakdown below a key moving average weakening momentum on the Relative Strength Index or the price falling out of a crucial chart pattern
7 Could this be a bull trap or a healthy correction
It could be either A bull trap is a false signal that makes buyers think a rally is starting before a sharp drop A healthy correction is a temporary pullback within a longerterm upward trend The context of the broader market cycle is key
8 How do large Bitcoin holders influence this kind of move
If several whales move significant amounts of Bitcoin to exchanges it signals an intent to sell which can create downward pressure and trigger stoploss orders from other traders accelerating a drop