Bitcoin Price Analysis: What Does the Latest Rejection at $70K Mean for BTC’s Structure?
Bitcoin’s latest bounce has pushed the market again towards the $70K–$72K space, however the broader construction stays fragile. The key query now could be whether or not this rebound can evolve right into a deeper corrective transfer towards overhead resistance, or whether it is merely a short lived response inside a dominant downtrend.
Bitcoin Price Analysis: The Daily Chart
On the every day timeframe, BTC stays inside a transparent descending channel, preserving the total bearish construction. The breakdown under the $75K stage triggered an accelerated sell-off that prolonged immediately into the $60K demand zone, the place consumers lastly stepped in.
The latest restoration has introduced the value again towards $70K, which additionally aligns with the channel’s mid-boundary, making it a notable resistance. However, Bitcoin remains to be buying and selling under the essential $75K resistance. As lengthy as the market stays beneath the $75K-$80K area, the transfer is technically thought of a corrective rebound inside a broader bearish development.
A decisive reclaim of $75K would expose $78,915 after which $81,485 (0.702) as the subsequent upside targets. On the draw back, the $60K zone stays the main structural assist.
BTC/USDT 4-Hour Chart
On the 4-hour timeframe, the rebound from $60K seems impulsive, however the value is now approaching the $70K-$72K short-term resistance space, which aligns with the descending construction and former breakdown area. The market is at the moment compressing under this stage.
A confirmed break and consolidation above $72K would seemingly set off continuation towards $75K essential threshold. However, failure to clear this resistance may end in renewed draw back strain, focusing on $65K first and doubtlessly revisiting the $60K demand zone if promoting momentum will increase.
Sentiment Analysis
The Bitcoin Futures Average Order Size chart reveals a notable shift throughout the latest decline. As the asset approached the $60,000–$65,000 area, a number of inexperienced dots appeared, representing massive whale-sized orders getting into the market. This cluster of inexperienced dots close to the native backside means that bigger members started accumulating throughout the panic-driven sell-off.
However, crimson dots has been apeared following the latest rebou, reflecting retail-driven exercise. The latest whale participation at decrease costs will increase the chance that the $60K area attracted strategic accumulation relatively than random shopping for, whereas the retail-driven rebound hints at a possible consolidation stage adopted by bullish retracements.
If this whale exercise returns round the $65K-$80K vary, it strengthens the case for a sustained rebound. However, for the construction to shift meaningfully bullish, Bitcoin should reclaim $80K. Without that reclaim, the broader every day development stays corrective inside a bearish framework.
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