Bitcoin Price Rejected Above $70K, Bulls Lose Grip on Momentum

Bitcoin price surged above $70,000 but was rejected at $70,463, now retreating toward key support levels. BTC is currently trading above $68,000 with crucial support at $67,500 and resistance at $69,350.

• →Bitcoin reached a high of $70,463 but failed to sustain gains above $70,000.
• →Price is currently trading above $68,000 and the 100 hourly moving average with bullish trend line support at $67,500.
• →Key resistance levels are at $69,350 and $69,800, with a break above potentially targeting $71,500-$72,000.
• →Downside risks include a potential decline to $67,500 support or lower to $65,500 if momentum fails.
• →Technical indicators show bearish signals with MACD in negative territory and RSI below 50.