Bitcoin (BTC) has been in a sharp downtrend over the past two weeks, facing 
steady declines as selling pressure, market volatility, and negative sentiment 
weigh on its price. During one of its recent market crashes, a crypto analyst 
noted that BTC had officially broken below a critical four-month support 
level, leaving the cryptocurrency in a precarious position. The expert now 
outlines what could happen next, and none of the scenarios suggested point to 
a fresh bull run—rather, Bitcoin may be headed for an even deeper bear market 
decline. Bitcoin Price Crash Breaks Key Support Crypto market expert Aralez 
announced in an X post on June 2 that Bitcoin had officially broken a critical 
four-month support level that had been holding its price steady. The latest 
decline saw the cryptocurrency lose more than 8% of its value in a single day, 
falling below $69,000. Related Reading: Bitcoin’s 4-Year Moving Average Shows 
Where The Market Bottom Lies Here Aralez explained that Bitcoin’s first goal 
during this bearish phase was to fill the Chicago Mercantile Exchange (CME) 
gap in the $74,000 &#8211; $81,000 range. His accompanying price chart shows that 
the CME gap was completely filled earlier in May when Bitcoin briefly climbed 
above $80,000. At the time, the cryptocurrency had been trading within a tight 
ascending channel, defined by an upper resistance trendline and a lower 
support line. This channel had guided BTC’s price up until its latest crash, 
which saw it break below the pattern&#8217;s lower boundary near $70,000. Since 
crossing $80,000, Bitcoin has entered a rather frightening downtrend, recently 
crashing below $63,000 after losing the $70,000 support. At the time of 
writing, Bitcoin is trading just above $62,000, down more than 2.3% in the 
past 24 hours and over 15% in the last seven days. Analysts tracking this 
bearish trend add that further declines could still occur until a bottom forms 
below $60,000, officially ending the bear phase. As for Aralez, he noted that 
a sharp sell-off immediately after hitting upside targets is usually a strong 
indication that the cryptocurrency’s downside momentum is far from over. As a 
result, he predicts that Bitcoin&#8217;s next move is likely a brief bounce to 
higher levels before another full-blown price crash to fresh lows. Analyst 
Outlines BTC’s Final Bearish Play In his analysis, Aralez outlined his roadmap 
for Bitcoin over the next 30 to 60 days. He first predicted that BTC could 
bounce back to the $71,000-$72,000 range and consolidate there for a bit. 
Afterward, the analyst expects the cryptocurrency to decline sharply toward 
lower-liquidity levels of $65,000-$63,000. Related Reading: Here’s Why The 
Bitcoin Price Is Crashing And What To Expect Next Once that range is reached, 
Aralez forecasts a brutal sweep below $60,000, suggesting a potential Bitcoin 
bottom near $55,000. He cautioned investors not to mistake the current market 
for the start of a new bull run. Instead, he said the market looks more like a 
classic bull trap that could catch many investors off guard. He added that the 
Bitcoin path with the least resistance points to lower levels. As the 
cryptocurrency continues its decline, he urged traders and investors to avoid 
becoming exit liquidity. Featured image from Pngtree, chart from 
Tradingview.com

Bitcoin (BTC) has been in a sharp downtrend over the past two weeks, facing steady declines as selling pressure, market volatility, and negative sentiment weigh on its price. During one of its recent market crashes, a crypto analyst noted that BTC had officially broken below a critical four-month support level, leaving the cryptocurrency in a &#8230;

Bitcoin’s Crash Has Broken Below A 4-Month Support, But There’s Still One More Play Left

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Bitcoin’s Crash Has Broken Below A 4-Month Support, But There’s Still One More Play Left

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