The post Bitcoin Technical Analysis March 31: Bearish Breakdown Triggers – $66K or $60K Target? appeared on BitcoinEthereumNews.com.

Bitcoin is currently being held below the $67,650 resistance level after a recent quick surge up to confirm the break below the neckline of a bearish head and shoulders pattern. Is the $BTC price on the brink of the next move down? Is a shallow move down to $66K next, or can a sell-off take the price down to $60K, with the possibility of an even bigger move down to follow? A drop is the most likely option Source: TradingView The next big move down is staring Bitcoin in the face. Any last ditch attempts to hold the bottom of the bear flag look like they may have been thwarted. Two small surges up to confirm the neckline breakdown from the head and shoulders pattern were possibly the last price action to take place inside the bear flag. Could the drop be next? That a drop is coming, and possibly a big one, looks a quite likely option. That said, there still could be the possibility of a week or two of sideways price action, as $BTC potentially gets closer to the bear market trendline. Be that as it may, not only has the $BTC price fallen out of the bearish head and shoulders pattern, it is also posturing to descend out of the bear flag. The measured move from the head and shoulders pattern, if it continues to play out, would be down to $58,600, while the bear flag could take the price all the way down to $38,000. The remarkably similar tale of two bear flags Source: TradingView If the above chart isn’t telling us that another downside leg is coming, then the market could be about to pull off the biggest bear trap ever. So many similarities in the two bear flags are in view here. Firstly,…

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Filed under: News - @ March 31, 2026 11:27 am