Bitcoin Price Crash: Where’s The Next Major Support Level?

Bitcoin's latest plunge has traders scrambling for the charts. Forget the noise—where's the floor?

The Hunt For Hard Support

Every crash needs a landing pad. Technical analysts are now laser-focused on identifying the next critical zone where buy orders might cluster. It's not about predicting the bottom, but mapping the potential safety nets. These levels often act like financial trampolines—sometimes they bounce, sometimes they just tear.

Why Support Matters More Than Fear

Panic sells newspapers. Support levels build strategies. In a market driven by sentiment, these technical landmarks offer a semblance of structure. They represent collective psychological price points where the market previously decided 'this is cheap.' Whether that logic holds this time is the billion-dollar question—usually answered by the same people who missed the top.

Navigating The Fallout

The path down is rarely a straight line. Expect volatility, fake rallies, and renewed bearish narratives. The key is separating signal from the deafening crash. History shows the most violent sell-offs often find stability at these pre-defined technical frontiers, at least for a while. It's the financial equivalent of catching a falling knife, but with more colorful charts.

So watch the levels, ignore the hourly hysterics, and remember—in crypto, the only thing that drops faster than price is the average investor's conviction. The next major support isn't just a number; it's the market's next gut check.

Analyst Breaks Down Chart Signaling Bitcoin Price Crash 

TradingView crypto expert ‘EliteGoldAnalysis’ has released a fresh chart study on Bitcoin’s next selling move, warning that the cryptocurrency’s downtrend may not be over yet. The analyst’s breakdown highlights a key support level he believes Bitcoin could crash to if its current downward momentum persists. 

EliteGoldAnalysis outlines a price structure on the chart that begins with a weak high, a technical condition that often reflects a liquidity grab before a reversal. The appearance of a weak high NEAR the top of Bitcoin’s most recent rally indicates that buyers may have been swept out before the momentum fully shifted. This pattern is accompanied by a steadily forming lower high, hinting at a developing bearish structure. 

From his perspective, the analyst explains that a short bias becomes relevant only after a clear confirmation of a bearish trend. Based on the Bitcoin price chart, such confirmation could include a break of minor support beneath the weak high, followed by a retest of that level. EliteGoldAnalysis also noted that a bearish rejection through wick actions or a strong bearish close would strengthen the case for a temporary Bitcoin price crash. 

While the analyst’s breakdown is just an interpretation of the chart rather than a trading call, Bitcoin’s price structure still hints at a possible retracement amid strengthening sell-side pressure. 

How Low Bitcoin Price Could Decline 

In his TradingView chart, EliteGoldAnalysis outlined critical zones that could dictate Bitcoin’s next bearish moves. The first region to watch is the potential “target level” marked in the purple zone above $85,000. The analyst views this level as a demand or imbalance area. Should bitcoin reach and hold this target, it may act as the first checkpoint before the market decides whether to correct downwards or push higher. 

Just beneath the $85,000 region lies a “strong support level” highlighted in blue at $84,000 on the chart. EliteGoldAnalysis predicts that Bitcoin could decline to as low as this $84,000 support area. The analyst suggests that this level is the final retracement target, potentially representing a significant liquidity pool that could attract buyers if the price declines. 

A decisive drop toward this level WOULD reflect a more than 6% decline from current levels above $89,000. Such a move would also mark the completion of the downside move implied by the chart structure. Over the past 24 hours, the price of Bitcoin has fallen roughly 3%, meaning a crash to $84,000 would further prolong the ongoing downtrend.  

Featured image from Unsplash, chart from TradingView