Bitcoin to $ 65,000? Here is why some traders are resolutely downgraded

Bitcoin vacillates after flight beyond 100,000 dollars. The current correction revives tensions on the markets, which feeds doubts on the solidity of the upward trend. While the threshold of $ 65,000 resurfaces in analysts' projections, the spectrum of a reversal is essential. Between hope of consolidation and fear of a lower cycle, uncertainty dominates.

An unfavorable graphic signal: the “Bear Flag” on bitcoin

The rocking point for Bitcoin occurred in contact with the 87,470 dollars area. According to the GDXTRAD trader, this resistance marks the upper terminal of a descending channel. The rejection that followed has doubled a recognized technical motif: a Dark Cloud Cover, a lowered backing signal well known to analysts.

“This motif is formed when a red candle opens above the previous fence, but ends below the middle of the body of the previous green candle”, detailed GDXTRADE on the social network X (ex-Twitter) on March 21, 2025. This configuration, visible in daily units, was perceived as a sign of weakness in buyers.

Several traders confirm this interpretation and identify support thresholds to monitor:

• Credibull Crypto evoked On the X platform on March 20, a “perfect rejection” of Bitcoin in the $ 88,000 and warns that a return to 77,000 to 79,000 dollars is now likely.
• In the event of a break in this area, he estimates that the next support would be between 65,000 and $ 74,000, based on the visible liquidity areas on the graphics.
• Cryptopus report As for him on X on March 21 the formation of a Bear Flag, a technical structure heralding an extension of the decline.
• A break in the threshold of $ 84,000 could, according to him, trigger a new corrective wave to the lower levels.

This bundle of technical signals feeds a cautious reading of the market and strengthens the idea of ​​a lasting slowdown in the bullish momentum.

Prudent forecasts despite the apparent market resilience

While Bitcoin is currently stabilizing around $ 67,000, several analysts maintain a posture of caution. The Nebraskan Gooner trader has published a graphic projection in which he plans to drop to the $ 65,000 area.

He said: “The level of $ 65,000 is a potential demand area where a rebound could take place, but the current configuration remains fragile”.

These forecasts are based on a careful reading of exchange volumes, which tend to decrease from the peak at 109,000 dollars reached on January 20, 2025. In parallel, market liquidity data show a rarefaction of long positions on derivative platforms.

This withdrawal of volumes and the reduction of open interest in term contracts indicate a gradual disengagement of institutional investors, whose presence had contributed to the bullish momentum in recent months.

Several analysts also highlight the importance of the $ 69,000 area as a psychological switch. A lasting break below this level could result in an acceleration of the correction.

However, despite these signals, no general panic seems to emerge at this stage, which makes the scenario down all the more insidious.

A return to the $ 60,000 could erode the confidence of retail investors, especially those who arrived on the market after crossing the threshold of $ 100,000. In the longer term, this correction phase could also cool the ambitions of companies that have integrated the BTC into their cash or their investment products. However, some see in this consolidation phase a return to a more sustainable trajectory for the market, capable of building a more solid base for the cycles to come.