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Bitcoin price trajectory has become an important point of interest in light recent decrease trendWhich has disappointed many bullish merchants. According to the Intotheblock chain analysis platform, the recent price act to the current price has experienced more than 6.5 million BTC addresses repercussions in losses. However, technical analysis suggests that Bitcoin could undergo other drops.
The question is whether Bitcoin will test $ 70,000 Mark before finding the strength or can bounce back by a price target of $ 300,000. The ideas of the structure of prices and historical models help to provide a clearer image of the next step.
Bitcoin Disline price: a normal cycle in high trends
Despite the concerns concerning recent Bitcoin price oscillations, the cryptographic analyst Philip (Basictradingtv) maintains that The market normally behaves in a long -term bullish structure. He stresses that on the higher monthly time, Bitcoin continues to create higher highs and higher stockings and maintains a solid positive trend which dates back to 2017.
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This technical perspective, which was noted on the tradingView platform, is in response to concerns as to whether the BTC is still optimistic after the correction of 25% of its recent summit of all time.
Traders were unstable after the recent decline, but historical trends suggest that this type of movement is part of the natural market cycle. According to the analyst, Bitcoin still forms a bull market structure, and although short -term fluctuations can continue, the 2017 wider channel is still in place. In addition, the analyst noted previous cases of 25% and 40% corrections during Bitcoin rallies from the lower trend line of this upward channel.
What is the next step for BTC? Possible resistance Rettest before joining $ 300,000
With the notion of a long -term trend still intact, the analyst noted that bitcoin could Continue your tendency downwards until it reaches $ 70,000. This level has significant importance, because it previously marked the highest Bitcoin before turning into resistance around mid-201. After several attempts, Bitcoin finally crossed this resistance towards the end of the year, which led to its new summit of $ 108,786 in January 2025.
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As such, this level of $ 70,000 is now a major psychological support area, making it a key area to look in the middle of the current bitcoin prices. From there, the analyst predicts a rebound This would send BTC to reach $ 300,000. “Levels to be monitored: $ 70,000, $ 300,000,” said the analyst.
At the time of writing the editorial staff, Bitcoin is negotiated at $ 82,555, after spending the majority of 24 hours spent between $ 79,947 and $ 83,436. This leaves the bitcoin Still around 14% to test the level of support of $ 70,000.
However, it is also possible that BTC does not drop as low as $ 70,000 Before the bullish feeling took over Again. If Bitcoin continues to follow the trajectory of past cycles, Fibonacci extensions indicate that price targets between $ 150,000 and $ 300,000.
Felash star image, tradingView.com graphic
