Bitcoin bulls must defend key level to avoid $76K, analysts say
Bitcoin is holding a critical Fibonacci support level, but analysts warned that a break could trigger losses down to April lows of $76,000.
Bitcoin is currently hovering at a critical technical level that needs to be defended to prevent major losses, according to crypto analyst Daan Crypto Trades.
He was referring to the 0.382 Fibonacci retracement zone, which serves as a key area of support and resistance during market cycles.
“I think this is a key area for the bulls to defend,” he said, observing that a break below it could result in a Bitcoin (BTC) fall to April lows around $76,000.