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  • Bitcoin price broke below the 200-day moving average after the recent sell-off.
  • Historical data shows that losing this support level has led to steep corrections in previous bull markets.  
  • Despite the bearish outlook, BTC may be primed to rebound before making lower lows.  

Bitcoin price could have hit a market top on April 14 when it made an all-time high of nearly $65,000. Even though there is potential for a rebound, the upswing might be short-lived.  

Bitcoin price loses crucial support level

In the following video,  FXStreet’s analysts evaluate where Bitcoin price could be heading next after losing  the 200-day moving average as support.