Trader Eugene: Bitcoin may test the support level of $66,000

ChainCatcher news, according to trader Eugene's analysis, Bitcoin will still maintain a downward trend on higher time frames. Eugene believes that while there is a possibility that Bitcoin has bottomed out at $76,000 or formed a double bottom in the $74,000-$76,000 range, this probability is decreasing.

From a market structure perspective, Eugene points out that there has not been enough panic selling in the current market to complete a deep correction after the excessive expansion of this cycle. He predicts that it is only a matter of time before Bitcoin tests Saylor's psychological level of $66,000.

Eugene also stated that the upward trends or ranges across all time frames have been broken, and that $75,000 is the last key support level for Bitcoin. Considering the correlation with the stock market, he believes that Trump, Bessent, or Powell will find it difficult to trigger a market reversal in the short term, and he plans to short at the $80,000 high after the producer price index data is released.