Credible Crypto Warns Bitcoin May Plummet to $75K

A recent chart analysis by Credible Crypto suggests that Bitcoin may be headed for a significant drop, potentially reaching as low as $75,000. The analyst's projection shows a potential path where BTC first tests the lower boundary of its current range around $81,000 before rebounding and eventually declining toward the upper $70,000s.

The key supply zone that Bitcoin needs to clear is above $86,000, near $87,408. If BTC fails to reclaim this level, it could form a range on a lower timeframe before a deeper move downward. This would make the next move particularly tricky to read, as the analyst's proposed path includes a period of trading within a narrow range and even a possible move higher before sellers take control.

Credible Crypto also mentioned a possible 'PO3 setup' near the local highs, which could lead to a reversal. The analyst's warning does not mean that Bitcoin will fall straight to $75,000, but rather that it may need to lose several nearer levels before a drop of that depth comes into focus.