Bitcoin’s Make-or-Break Moment: Eyes on $70KBitcoin price almost reached the $74k support area, which is critical for the bull run continuation.
This zone has acted as a strong resistance in the past, and a clean bounce from here could signal renewed strength and confidence in the market.
However, if this support fails to hold and BTC closes the weekly candle below the $70k level, it would likely mark the end of the current bull phase and signal the beginning of a distribution phase or even the early stages of a new bear market.
That doesn’t necessarily mean Bitcoin will crash straight to $50k — corrections are rarely that linear. But it would drastically reduce the chances of seeing new all-time highs in this cycle.
The next rally, if it happens, would probably be more muted and shorter-lived.
Hopefully BTC will manage to avoid this scenario and hold above the support area.
On the positive side, if BTC holds above $70k and we see strong demand stepping in, it could set the stage for a healthy bounce and continuation of the uptrend.
Still I expect that BTC will test 70k level and if we see strong buying pressure on that level we can expect some recovery.
