Bought Bitcoin... "Should I get out even now?" Shocking outlook

"Beware downside risk"

As the year-end approaches, the possibility of further adjustments in Bitcoin increases, so investors should exercise caution.

On the 21st (local time), crypto outlet newsBTC reported that quant trader 'CryptoOnchain' analyzed on X (formerly Twitter) that Bitcoin (BTC)'s price structure has tilted toward weakness. He suggested that selling pressure remains throughout the chart, so the short-term scenario favors a decline.

He specifically noted that Bitcoin's price is currently moving near the key 'Point of Control (POC)'. POC refers to the price level where the most volume accumulated during a specific period and can represent a strong support or resistance. Since Bitcoin has not quickly recovered its previous highs, the likelihood of a downward break from that zone is increasing, he analyzed.

CryptoOnchain also projected that if the POC collapses, the price could be pushed down to the $70,000–$73,000 range. This zone was a previous cycle high and a technically "support-turned" area where buying pressure could intensify. He said, "This zone is a key support area where market participants are likely to respond actively."

CryptoOnchain said the divergence shown by the Relative Strength Index (RSI) supports the possibility of a retest of the $70,000 range and explained, "It is important to watch carefully whether a reversal signal appears around $72,000."

However, if the $70,000–$73,000 support is broken, it could lead to a deeper correction and a prolonged bearish phase. Conversely, experts say that only by defending that zone can a long-term upward structure and the macro trend be maintained. Considering that Bitcoin previously fell below $75,000 amid global financial market turbulence over trade tensions in the first quarter of this year, the reappearance of this price range could become a familiar test for investors.

Jang Ji-min, guest reporter, Hankyung.com newsinfo@hankyung.com