The price of Bitcoin is hovering around $82,700 after key support gave way. CryptoJack\u2019s technical analysis points to a possible move lower from here, with $77,400 as the next likely target.<\/p>\n
In a recent YouTube post, CryptoJack detailed how Bitcoin has been trending downward from the $82,700 area after falling through an important support line on the four-hour chart. That kind of loss has traders bracing for more downside. The weekly chart tells a similar story: a break below a level established back in April 2024. For CryptoJack, that is a sign of mounting bearish pressure and the beginning of what could be a more substantial correction.<\/p>\n
According to the technical analysis put out by CryptoJack, $77,400 is the next big number to watch. He sees it as a measured move off the triangle formation on the charts and warns that the price tends to be drawn down to it should Bitcoin be slow to reclaim its old support.<\/p>\n
There is ample reason for such a bearish view. In the past day alone, some $700 million in Bitcoin positions have been liquidated, a figure that speaks to how thin the buying pressure is at these levels and just how fragile market sentiment has become.<\/p>\n
CryptoJack has been open about his trading methods, disclosing that a short position he put on at the $87,000 mark is now in profit by some $9,600. He sees a retest of the 50-week moving average as a chance to buy in, an old bull market signal with plenty of historical weight. Should Bitcoin drop to $77,400 in a worst case, he would not be put off; in fact, he intends to take a long position if that average is tested. His record in the volatile market is evident from the WLD and SOL trades he has posted for his Telegram followers to see.<\/p>\n
With an eye on the volatility that defines the crypto space, CryptoJack puts out educational material and market updates in a bid to make things easier for his audience. He is keen to have followers stay with his channel for what he has to offer by way of analysis on Bitcoin and altcoins, not to mention the trade setups he often puts forward.<\/p>\n
As for putting those strategies and market calls into action, he will point you to Bitbase exchange. The platform is one of his key partners and the one he recommends for anyone wanting to get their trades done.<\/p>\n
This article reflects the channel author\u2019s opinion and is not investment advice.<\/em><\/p>\n Every call by CryptoJack and how it played out \u2014 in the BuyCrypt bloggers tracker<\/a>.<\/em><\/p>\n Source \u2014 CryptoJack: https:\/\/www.youtube.com\/watch?v=gR5tgGEOp40<\/a><\/em><\/p>\n <\/p>\n Explore how you can practice trading strategies risk-free in real market conditions to prepare for key support breaks like Bitcoin’s. Practice trading strategies<\/a>.<\/p>\n <\/p>\n