A Look at Bitcoin's Long-Term Movement

The cryptocurrency Bitcoin has plummeted recently, registering a monthly decline of nearly 20% in February.

Bitcoin's price is currently approaching the $60,000 level, from which it previously rose by about 5% in recent days.

Tensions are putting renewed pressure on Bitcoin, as uncertainty surrounding US trade policy has escalated again after the Supreme Court struck down most of the tariffs imposed by Donald Trump.

This decision did not prevent Trump from reversing course and imposing new tariffs, relying on a different legal framework, ranging between 10% and 15%.

So far, the news is negative for the cryptocurrency, and indeed the entire cryptocurrency market. This has prompted many major investors to move their Bitcoin holdings to trading platforms to sell and offload them, which could push the price even lower, potentially exceeding $60,000.

Despite this negativity, a technical analysis suggests a potential boost for the cryptocurrency, allowing it to attempt a correction and reduce losses.

Technical Analysis and Expected Movement

If the cryptocurrency continues its decline, we expect to see levels around $60,000. If it breaks below this level and closes below it with a daily candle accompanied by clear selling pressure, the price is expected to target the $54,600 level, which is considered a strong buying zone. This zone could trigger a rebound, but only if clear reversal signals emerge.

The buying zone extends from $54,600 to $53,500. If this zone is broken, the cryptocurrency could continue its downward spiral, potentially reaching $48,900.