Bitcoin (BTC) Rejected At $78,000 Again; Top Analyst Says a Bigger Drop Could Follow

Bitcoin pushed back into the $78,000 zone this week, but the move did not last long. Price tested a key resistance area between $78,000 and $80,000 and quickly lost strength, closing near $77,000. That reaction lines up closely with what Crypto Patel pointed out earlier, and the chart now shows why this level matters so much.

A closer look at the chart shows Bitcoin moving inside a rising channel after a sharp drop earlier in the year. That structure often forms a bearish flag, which usually appears before another move lower if resistance holds.

Crypto Patel highlighted the same idea when Bitcoin reclaimed $78,000. His focus stayed on the bearish order block between $78,000 and $80,000. Price entered that zone, failed to break through, and turned lower. That rejection now confirms sellers are still active in that region.

The earlier drop of around 30% created the base for this pattern. Price then moved upward in a controlled channel, which does not show strong bullish pressure. That type of recovery usually lacks conviction, and resistance zones tend to hold more easily.

Crypto Patel Scenario Shows $68,000 As Key Downside Target

Crypto Patel outlined two clear paths for Bitcoin, and the first one now looks more relevant after the rejection.

The bearish case points to a move toward $68,000 if resistance continues to hold. The chart supports this idea with a projected breakdown from the flag structure. A measured move from the pattern aligns closely with that $68,000 region.

Another factor comes from the repeated failure near the same resistance band. Each rejection weakens bullish momentum and increases the chance of a deeper pullback.

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The alternative scenario still exists. A clean break above $80,000 could open the door toward $88,000 to $90,000, which marks another major resistance zone. That move would require strong buying pressure and a daily close above resistance. Current price action does not show that strength yet.

Bearish Flag Structure Suggests Bitcoin Could Extend Losses

The broader structure tells a consistent story. Bitcoin formed an initial sharp drop, followed by a rising channel that looks corrective. This pattern often leads to continuation in the original direction.

The projected path on the chart shows a gradual move lower that accelerates after support breaks. That path lines up with previous support zones near $68,000 and even lower levels if selling pressure increases.

Market structure also shows lower highs forming near resistance, which keeps the trend under pressure. Bulls need to reclaim $80,000 and hold above it to change this structure in a meaningful way.

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Bitcoin now sits at a critical level after failing to hold above $78,000. The rejection confirms the importance of the $78,000 to $80,000 zone, and Crypto Patel’s analysis remains in play.

The next few sessions could decide the direction. Continued weakness may push BTC price toward $68,000 as the bearish flag plays out. A strong reversal above $80,000 would challenge that outlook and shift focus toward higher resistance.

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