Bitcoin is currently approaching a key downtrend resistance line that has been respected several times since early February. The price action suggests a potential rejection from this level, which could lead to a move toward the lower boundary of the broader descending channel.
🔹 Bearish Scenario: If the resistance holds, we may see a continuation of the downtrend with possible targets near the $71K–
73K region.🔹 Bullish Invalidator: A confirmed breakout above the trendline would invalidate the bearish setup and could signal a shift in market structure.
⚠️ Watch price action closely around this level for potential rejection or breakout confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.