Bitcoin parabola breakdown raises chance for 80% correction: Veteran trader

Bitcoin's price has broken the parabola trend line, with notable traders warning of a potential 80% correction. This significant change is very apparent from past price trends and patterns, as parabola trends typically indicate strong upward movements, yet their breakdown suggests a much larger adjustment, particularly the mentioned 80% figure. Despite the increasing demand from traditional finance, whether this will nullify negative predictions remains uncertain. In such a scenario, traders must manage risks cautiously. The market is highly volatile, and preparing for future price fluctuations is essential. How Bitcoin reacts will significantly influence upcoming market developments. Investors should closely observe the technical levels for support and resistance and make informed trading decisions accordingly. Continued vigilance in monitoring market movements is necessary.