TechFlow news, on March 13, crypto analyst Matthew Hyland stated on social media that Bitcoin needs to close above $89,000 on the weekly chart to confirm the end of the short-term downtrend. Hyland considers $89,000 a key level because it was the support zone where Bitcoin ultimately "broke down" from.
Hyland warned that if Bitcoin fails to close above this level, prices could fall to the $74,000–$69,000 range—a level not seen since last November. He said, "In the coming weeks or months, Bitcoin is very likely to test this lower support area."
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