Crypto analyst Behdark issued a stark warning today, forecasting a significant correction in Bitcoin's price despite its recent surge above $78,000. The analyst predicts a sharp pullback of approximately 10% before any sustainable recovery toward six-figure valuations, directly contradicting the prevailing bullish sentiment in the market.

How Low Will The Bitcoin Price Go?

Despite the increase in price, the crypto analyst has predicted that it is likely that the Bitcoin price crashes first from here. The bullish sentiment in the market, Behdark believes could be misleading for investors, as this could be a deliberate ploy by market makers to actually get the most people involved before crashing the price again.

As the analyst explains, the underlying Bitcoin structure is still very bearish, especially given the fact that the digital asset looks to be forming a triangle or diamagnetic pattern. The latter is a complex corrective pattern, meaning that it can often be clouded in recoveries before crashing down further again.

In either case, both of these patterns point to a high possibility that the Bitcoin price would go down first before up. Thus, it is likely that there would be opportunities to buy the cryptocurrency lower before eventually waiting for the run-up.

With this, the crypto analyst has identified the major levels that investors should watch out for that could be the best time to actually short the cryptocurrency. Mainly, two levels are of the most interest as these are where the bears could make their stand in terms of establishing resistance.

The first of these is just above $77,000 as the price continues to struggle with declining momentum. Next is the $80,552 level, where there is likely the most resistance to the current rally, thus making them the points that could trigger a downward corrective move.

Once the decline begins, then the first stop would be just above $72,800 for the first support level. Next is the $67,885 level for better support, but a break of this would eventually lead to another 10% crash. The last major level is $67,677, which still lies above the established cycle support of $60,000.