Key onchain metrics reveal that Bitcoin’s downtrend may continue with a classic bearish continuation pattern suggesting BTC price could go as low as $63,000.
Bitcoin (BTC) tapped $83,700 during the early Asian hours on March 12 after reaching a low of $76,600 on March 11 amid a slight improvement in market sentiment.
BTC/USD facing rejection from the $84,000 level raises questions about whether BTC price could drop further over the next few days.
BTC/USD hourly chart. Source: Cointelegraph/TradingView
