TechFlow news, on March 13, according to analysis by well-known trader Eugene, Bitcoin will continue to maintain a downward trend on higher timeframes. While Eugene acknowledges the possibility that Bitcoin may have already bottomed at $76,000 or formed a double bottom in the $74,000–$76,000 range, he believes this likelihood is decreasing.
From a market structure perspective, Eugene points out that the current market has not yet experienced sufficient panic-driven selling to complete a deep correction following the cycle's excessive expansion. He predicts it's only a matter of time before Bitcoin tests Saylor's psychological support level at $66,000.
Eugene also stated that uptrends or trading ranges across all timeframes have now been broken, with Bitcoin's $75,000 level being the last critical support. Considering its correlation with the stock market, he believes Trump, Bessent, or Powell are unlikely to trigger a market reversal in the short term, and plans to potentially short at the $80,000 level following the Producer Price Index data release.
