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The Bitcoin price track has become a great point of attention in light From the last declining directionThe hopes of many of the upscale merchants were disappointed. According to the analysis platform on the series, the low price of the current price has seen more than 6.5 million BTC addresses in losses. However, technical analysis indicates that Bitcoin can test more drops.
The question is if it is Bitcoin will test $ 70,000 A sign before restoring strength or can refresh from here towards the price of $ 300,000. Visions of the price structure and historical patterns help provide a clearer picture of the following.
Bitcoin decrease: an ordinary course within the rise
Despite the concerns about the recent price fluctuations for Bitcoin, the BASICTRADINGTV Maintain this The market behaves naturally within a long -term bullish structure. It highlights that in the upper monthly time frame, Bitcoin continues to create higher levels and highest levels and maintain the steel -ups that dates back to 2017.
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This artistic view, which was observed on the TradingView platform, comes as a reaction to concerns about whether BTC is still ups off after the continuous correction of 25 % of its highest level ever.
Traders felt uncomfortable after the last decline, but historical trends indicate that this type of movement is part of the natural cycle of the market. According to the analyst, Bitcoin still constitutes the bullish market structure, and although short -term fluctuations may continue, the broader trend of 2017 is still valid. Moreover, the analyst noticed previous cases of 25 % and 40 % of corrections during bitcoin gatherings from the lower direction line of this emerging canal.
What is the following for BTC? Re -testing the resistance before the assembly to 300,000 dollars
With a long -term bullish concept that is still intact, the analyst notes, however, that bitcoin can Continue Until up to $ 70,000. This level is of great importance, as he previously kept Bitcoin at all before turning into resistance in mid -2014. After multiple attempts, Bitcoin eventually penetrated this resistance at the end of the year, which led to its highest level ever of $ 108786 in January 2025.
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As such, this level of $ 70,000 is now a major psychological support zone, making it a major area to see it amid the continuous correction of Bitcoin. From here, the analyst Expected It would send BTC to reach $ 300,000. “Training levels: 70,000, 300,000 dollars,” the analyst said.
At the time of writing this report, Bitcoin is trading $ 82,555, after spenting most of the past 24 hours ranging from $ 79,947 and $ 83,436. This leaves bitcoin It is still about 14 % away From the support level test of $ 70,000.
However, there is also a possibility that BTC may not decrease to $ 70,000 Before you take up the bullish feelings once again. If Bitcoin continues to follow the course of the previous sessions, the Fibonacci extensions indicate the goals ranging between $ 150,000 and $ 300,000.
Distinctive image from Unsplash, Chart from TradingView.com
