Bitcoin News
By Maheen Hernandez
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The $71,495 Trendline That Changes Everything. The number everyone's watching is $71,495. That's where the descending trendline sits on the…
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The Supply Zone Between $77,000 and $82,800. Past $75,952, the major resistance sits at $79,453. That's a critical level for the bulls, because…
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Bitcoin is in trouble. The price has fallen more than 22% over the past month, and sellers are firmly in charge — unless bulls can claw back some key levels fast.
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The 4-hour chart tells a pretty ugly story right now. Since Bitcoin hit a swing high above $82,800 in May, the structure has been nothing but lower highs and lower lows.
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The number everyone's watching is $71,495. That's where the descending trendline sits on the 4-hour chart, and it's the line Bitcoin needs to break — cleanly, with a strong…
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It's worth being clear about what a trendline break actually means here. It's not enough to wick above $71,495 intraday. Traders want to see a 4-hour close above it.
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If Bitcoin does clear $71,495 with conviction, the next stop is $75,952. That level is an intermediate resistance, and it's also a former breakdown point — the kind of area where…
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Past $75,952, the major resistance sits at $79,453. That's a critical level for the bulls, because getting above it would put real pressure on the broader bearish narrative.
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More context: Bitcoin Slides Toward $65K as Buyers Eye the $60,000 Line
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The ultimate target in any recovery scenario is $82,800, the May swing high. Reaching it would mean navigating through every single one of those resistance layers without losing…
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The rejection at $66,000 says something about how strong the sellers currently are. When a level that should've held as support just folds, it tells you the market's not ready to…
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Traders watching this setup are basically waiting for two things: a reclaim of $66,948 first, then a sustained push through $71,495. Both need to happen in sequence.
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Read also: Bitcoin Plunges to $61,322, Lowest Since February as Rebound Doubts Mount
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The interplay between bulls and bears near these technical levels will probably define Bitcoin's short-term direction for the next few weeks. Each resistance layer is its own test.
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It's murky right now. The structure is bearish, the recent price action hasn't given bulls much to work with, and the resistance stacked between current levels and $82,800 is…
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