No Big Break Until BTC Regains This Key Resistance

Bitcoin remains under continued selling pressure, trading around $71.5K as the market continues to grind through one of the sharpest corrections since the 2022 bear cycle. Since the moving averages are trending lower and no major structural level has been recovered, the trend is likely to remain bearish until proven otherwise.

Bitcoin Price Analysis: Daily Chart

BTC is still trading within a bearish channel on the daily chart, with the 100-day moving average (~$79K) and the 200-day moving average (~$92K) acting as key barriers. The $75K–$80K area, which was a strong support in late 2025, has now turned to resist and reject all recovery efforts in recent weeks.

The RSI has recovered significantly from its February dip below 20 and is now trending around the mid-50Ks, which is an improvement, but still short of the bullish zone needed to signal a trend reversal. Key support remains at $60K–$62K, with $50K as the next major level below if that area fails.

BTC/USDT 4-Hour Chart

On the 4-hour chart, BTC continues to consolidate within the equilateral triangle formed since the beginning of February, with the price currently trading around $71.5K, close to the middle of the pattern. The upper boundary near the $75K supply point has rejected the asset several times, strengthening it as resistance to immediate viewing.

The RSI in this timeframe has rebounded from the low-30s and is trending higher above 60, suggesting short-term buying pressure is building. A decisive break above the upper triangle trendline and the $75K resistance band would be a short-term bullish signal, while a break below $62K could send the price below the February support area and further down.

Analyzing Emotions

Funding levels across all trades have been very positive since late January. It marks a major turnaround from the consistent positive readings seen throughout Bitcoin’s 2025 schedule. This persistent negativity indicates a very tight short side in the futures market, which historically can act as fuel for a short squeeze if demand for the property increases.

That said, poor financing alone is not an incentive. The long extension of the red bars since February suggests that traders were actively betting on a recovery rather than just hedging, until this week, when prices have eased slightly again. Until the price retraces the key structural level on the daily chart, the support data is better read as an indication of a bearish case rather than a contrary buy signal.