Price Analysis View Non-AMP

Bitcoin (BTC) Eyes $78,500, Bearish Pattern Signals Trouble

Published by
Chandan Gupta

After a bullish start to March 2025, its close appears to have ended in a market crash. Today, March 28, 2025, the overall market witnessed a significant price decline. Amid this, Bitcoin (BTC), the world’s largest digital asset, has finally lost its support and is now poised for a massive price drop.

Bitcoin (BTC) Technical Analysis and Upcoming Levels

According to expert technical analysis, between late February and early March 2025, BTC witnessed impressive upside momentum while forming a bearish rising price action pattern on the daily timeframe. The BTC price has now broken out of the pattern, partially confirming its bearish outlook and opening the path for further price decline.

Source: Trading View

Based on historical price momentum, if the BTC price continues to fall and closes a four-hour candle below the $83,500 mark, there is a strong possibility that it could drop by 6%, reaching the $78,500 level.

Following the breakdown, the asset has also fallen below the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating a weak and bearish trend.

Current Price Momentum

Bitcoin is currently trading near $83,850 and has recorded a 4% price decline in the past 24 hours. However, during the same period, its trading volume surged by 25%, indicating heightened participation from traders and investors compared to the previous day.

Traders Bearish Outlook

Meanwhile, looking at the bearish market trend and continuous price decline, traders strongly capitalizing on the trend appear to be betting on the short side, as reported by the on-chain analytics firm Coinglass.

Data reveals that traders are currently over-leveraged at $86,000, where they have built $1.26 billion worth of short positions, hoping that the BTC price won’t cross this level anytime soon. Meanwhile, $83,500 is another over-leveraged level where traders have built $345 million worth of long positions, which are on the verge of liquidation and will be liquidated if the BTC price crosses this level.

Source; Trading View

This on-chain metric highlights that bears, who believe the market will fall, are currently dominating, while bulls seem to be exhausted.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

This $0.025 DeFi Project Is Gaining Real Traction — Will It Be the Next Big Crypto of 2025?

As the market warms up and new narratives begin forming around decentralized finance, one project…

April 21, 2025

DOGE to $4? Dogecoin Plots a Comeback, While $0.20 Rival Token Shows Prospects of a 14560% Surge

Dogecoin has shown a 9.74% daily growth to reach $0.2021 in trading value and experts…

April 21, 2025

Top Altcoins to Buy Before the Next Market Surge

With the crypto market showing signs of renewed bullish momentum, investors are looking to position…

April 21, 2025

XDC Network Price Prediction 2025, 2026 – 2030: Is XDC Price Good Investment?

Story Highlights The XDC Price today is . The XDC Network price could hit a…

April 21, 2025

This Altcoin May be the Next 100x Gem, Which Could Thrive in 2025

The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above…

April 21, 2025

Stellar Price Prediction 2025, 2026 – 2030: Will The XLM Coin Reach $1?

Story Highlights The live price of the Stellar crypto is . XLM price could reach…

April 21, 2025