Bitcoin Price Teeters Near The Edge As Bears Eye Another Breakdown
Summary
Bitcoin fell below the $73,800 area after losing the $75,000 support and sliding under $74,500, $74,000, and briefly below $73,000. It hit a low near $72,470 and has been consolidating below the 100-hour simple moving average and a broken rising channel. A recovery attempt stalled near $74,000. If BTC holds above $72,000, it could try to rebound toward $73,850 and $74,000, with stronger upside targets at $74,500, $75,150, and then $75,500. If it cannot reclaim $74,200, another decline is likely. Key downside supports are $73,000, $72,500, and $72,000, followed by $71,500 and the major support at $70,850. Momentum is weak, with the hourly MACD bearish and RSI below 50.
