{"id":170050,"date":"2026-05-24T19:00:00","date_gmt":"2026-05-24T19:00:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=170050"},"modified":"2026-05-24T19:00:00","modified_gmt":"2026-05-24T19:00:00","slug":"bitcoin-price-could-fall-to-72-5k-before-next-rebound-heres-why","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=170050","title":{"rendered":"Bitcoin Price Could Fall To $72.5K Before Next Rebound \u2014 Here\u2019s Why"},"content":{"rendered":"

After a terrible start to the weekend, the Bitcoin price jumped back to life on the back of news of a potential agreement between the United States and Iran. However, ignoring the potential impact of fresh geopolitical news or events, the current price structure<\/a> suggests that new investors would be catching a falling knife. According to a chart highlighted on the X platform, the Bitcoin price appears bound for a drop to around $72,000, at least in the short term.<\/p>\n

BTC Price Trading In Ascending Channel Pattern<\/strong><\/h2>\n

Prominent chartist Aksel Kibar took to the social media platform X to share<\/a> an interesting layout of the Bitcoin price, suggesting the coin might be on its way down to around $72,500. This highlighted chart shows the formation of an ascending channel on the BTC daily timeframe over the past few months.<\/p>\n

For context, an ascending channel is a technical analysis pattern characterized by two major (upward-sloping) trendlines: the upper line connecting the higher highs and the lower line connecting the higher lows. Within this framework, the upper boundary acts as resistance while the lower trendline provides a support cushion to the asset\u2019s price (i.e., Bitcoin price).<\/p>\n

Typically, an ascending channel shows the persistence of an upward trend, with the Bitcoin price forming multiple higher highs and higher lows since February. However, the premier cryptocurrency recently formed a swing high around $82,500 and is currently undergoing a retracement<\/a> that could see its value fall to as low as $72,500.<\/p>\n

What to watch is what happens at the lower boundary if the Bitcoin price does fall to $72,500 over the next few days. On an optimistic note, the flagship cryptocurrency could bounce back and forge back towards the upper trendline if this highlighted support level holds strong.<\/p>\n

In this case, the resistance region to watch would be just above $86,000, where there would likely be a confluence of the 365-day moving average and the upper boundary line. The market leader could enjoy further significant upside if the Bitcoin price breaks above this resistance region.<\/p>\n

However, there is also a chance that the BTC price could lose<\/a> the $72,500 support, which could trigger a wave of bearish pressure. If this scenario plays out, the premier cryptocurrency could fall as low as $60,000, where Kibar thinks a short-term reversal could form.<\/p>\n

In any case, Kibar noted that he would only consider entering a long position above the 365-day moving average, a major indicator of the start of a bull market.<\/p>\n

Bitcoin Price At A Glance<\/strong><\/h2>\n

As of this writing, the price of BTC stands at around $76,762, reflecting a 2% jump in the past 24 hours.<\/p>","protected":false},"excerpt":{"rendered":"

After a terrible start to the weekend, the Bitcoin price jumped back to life on the back of news of a potential agreement between the United States and Iran. However, ignoring the potential impact of fresh geopolitical news or events, the current price structure suggests that new investors would be catching a falling knife. According […]<\/p>\n","protected":false},"author":0,"featured_media":170051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-170050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/170050"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=170050"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/170050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/170051"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=170050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=170050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=170050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}