Bitcoin Price Analysis: Can BTC Hold $70K After $10K Weekly Drop?
Bitcoin is approaching the lower limit of its ascending channel around $70K-$71K, with recent price action showing lower highs and lows, indicating a bearish trend.
A sustained close below this limit could lead to further declines towards the $67.8K–$69.8K demand zone, while a recovery above $75K–$76K is needed for a potential upside.
Increased futures trading activity suggests increased market volatility, with the current support area being disputed; A strong recovery is needed to confirm a reversal.