Bitcoin stuck below 72,000 USD: The market is at a crossroads of 80K or 60K
Bitcoin stuck below 72,000 USD: The market is at a crossroads of 80K or 60K
Bitcoin is currently trading around 69,397 USD, with a market capitalization of 1.40 trillion USD and a 24-hour volume of about 42.58 billion USD.
The daily trading range is quite narrow, from 69,286 to 70,897 USD, indicating that the market is in a good liquidity state but cautious, as the cash flow has not yet clearly chosen a direction.
On the daily timeframe, the overall structure still shows a recovering trend within a larger downtrend. After reaching a peak near 97,900 USD and falling to 59,930 USD, the price bounced back to the 70,000–71,000 USD range but has not yet broken the series of lower highs.
Important resistance is at 72,000, 75,000, and 80,000 USD. The nearest support is at 65,000 USD, and the 60,000 USD mark serves as a structural pillar. If 60,000 USD is lost, the long-term downward trend may be reinforced.
The 4-hour frame shows more positive signals as a higher low forms at 65,080 USD and a series of higher highs approaches 71,000 USD. However, the 71,500–72,000 USD range remains a decisive barrier.
A clear close above 72,000 USD could pave the way to 75,000 and then 80,000 USD. Conversely, if rejected and breaking below 68,000 USD, the risk of retreating to 65,000 USD will increase.
Oscillators like RSI, Stochastic, and CCI are all in a neutral state, reflecting a lack of breakout momentum.
The short-term moving average is trying to stabilize the price, but the long-term MAs still lean towards a downward trend. Therefore, the market is in a "decisive zone," where the volume and price reaction at 72,000 USD will play a key role in the next direction.
