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Bitcoin falls below $77,000 after hitting resistance at 200-day moving average, signaling potential weakness into Q4.

Market News
19 May 2026
Benzinga
View Source
Bearish
pluang ai news

Bitcoin recently dropped below $77,000 after being rejected at its 200-day moving average, a key resistance level seen in past bear markets. Analyst Benjamin Cowen predicts this weakness could continue through Q3 and early Q4, with two possible scenarios: a more bearish path leading to a bottom in October after further declines, or a less severe drop followed by a rally to around $85,000 before falling again. Historical patterns show Bitcoin often finds temporary support near the 20-week moving average during these cycles. Stablecoin dominance is also rising, consistent with previous bear market behavior. Overall, Bitcoin's price action in 2026 closely mirrors the 2018 bear market, suggesting cautious outlook ahead.

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