Bitcoin Price Crash Continues: BTC Slips Below $78,000, Here Is the Next Target

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Bitcoin price crashes below the key $78,000 area as selling pressure builds. We analyze the chart and reveal the next short-term target for BTC.Add as a preferred source on GoogleFollow on Google News$Bitcoin has lost another battle. After holding above $80,000 for most of the week, BTC broke down hard on October 29 and 30, sliding from around $81,300 to a low near $76,900 in less than 48 hours. At the time of writing, Bitcoin trades at $77,200, roughly 4.5% below where it opened the week and well under the $78,000 zone that bulls had been defending since mid-September.BTC/USD ChartThe move was not a slow bleed. The seven-day chart shows a near-vertical drop late on October 29, a brief bounce toward $78,300, and then a second leg lower on October 30 that pushed price into the $76,900s. The bounce since then has been weak, which tells us sellers are still in control.Why Did Bitcoin Price Crash Below $78,000?The $78,670 level (orange line on the daily chart) had acted as the floor...