Bitcoin Price Declines Below $80,000 Amid Bearish Market Conditions

Bitcoin Price Analysis

Bitcoin declined below $83,500 and is trading under $81,200.
Price broke below a bullish trend line with support at $83,000.
A low was recorded at $77,057 before a recovery attempt above $78,800.
Immediate resistance is at $80,000; key resistance at $80,500.
Support levels are at $77,500, $77,000, and major support at $74,200.

Bitcoin's current trend indicates potential for further decline if the price does not surpass $80,500. Technical indicators show bearish momentum with MACD in the bearish zone and RSI below 50.