Bitcoin Could Enter Freefall If This Level Cracks: Analyst
Bitcoin has repeatedly rebounded from the $70,000 area, but analysts warn a future retest could behave differently. A rising-wedge support line dating back to 2017 has held through major sell-offs, including the November 2022 FTX crash and several pullbacks in early 2026. Recent chart analysis places that key support near $70,000, and a confirmed break below it would be a significant bearish signal. One commentator says such a break could lead to Bitcoin’s largest weekly red candle in years, though no specific downside target was given. A more cautious analyst argues the current move looks like a normal end-of-month correction tied to portfolio rebalancing, not a major trend reversal. Still, failure to hold key support could open the door to the low-$60,000 range.
