70k

Bitcoin is going through a phase that feels heavy and uncomfortable. Price is falling again and again, but something feels different this time. There is no big bounce. There is no sharp recovery candle. Every small move up gets sold quickly. This usually does not happen when retail traders panic. This kind of price action mostly appears when bigger wallets are slowly distributing coins.

Right now the most important thing is the 70k support area. This level was holding for some time, but once it broke, price did not react strongly. That is the real warning sign. When an important support breaks and buyers do not step in immediately, it tells us sellers are still active and confident. This is exactly what we are seeing now.

Most people think dumps happen because everyone sells together in fear. In reality, big moves usually start quietly. Large wallets do not sell in one candle. They sell slowly, step by step, letting price fall naturally. That avoids attention. That is why the chart looks controlled instead of chaotic.

On-chain data and recent behavior also support this idea. Big holders are still moving coins to exchanges. Selling pressure is not aggressive, but it is constant. This is why every bounce feels weak. Retail traders try to buy the dip, but supply keeps coming from above.

Another important thing is psychology. After a long time, many traders are already tired. They bought earlier dips expecting fast recovery. When it does not happen, confidence starts to break. This is usually the phase where market moves from hope into acceptance. Smart money often finishes selling around this stage, not at the top and not at full panic.

Now let’s talk about the next important zones. If price stays below 70k and sellers remain active, the next strong area is around 63k to 65k. This zone acted as a major base before the last expansion. Markets often return to such levels when distribution happens higher up. This does not mean price must go there instantly, but it is a realistic zone to keep on the radar.

What should traders do in such conditions. First, stop expecting fast reversals. This is not a V shape environment. Second, trade level to level, not emotions. Third, avoid overexposure. When heavy wallets are still selling, patience becomes more valuable than prediction.

One more important point. This kind of selling does not mean Bitcoin is finished. It means the market is resetting. Every major cycle had this phase where price feels weak, boring, and scary at the same time. History shows that Bitcoin always proves itself after such phases, but only after weak hands are cleared.

This is not financial advice. This is simply market observation. Right now the chart is speaking clearly. Sellers are calm. Buyers are hesitant. Support is broken. Until this changes, respect the downside and stay disciplined.
$BTC
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Bitcoin reversals area #70k #69k pull back
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