Bitcoin has not yet broken past essential resistance stages, holding the sales in suspense.
Analysts suggest that $70,162 is a critical point that could spark a new pattern.
Traders are waiting to see if Bitcoin will break through or continue falling further.
Bitcoin has been struggling around $64,000 as it faces important obstacle degrees that could define its next move. Expert Peter Brandt points out that the token is still in a bearish trajectory, with lower highs and lower lows forming. For BTC to break this trend, it must close above $70,162, an area that could attract an upward shift.
Resistance Levels Blocking Bitcoin's Progress
Bitcoin has repeatedly faced difficulty surpassing the $65,200 level, with $70,162 being the key resistance that could trigger an uptrend. Without breaking through this level, the downward pattern is likely to continue, which could add pressure to the market.
https://twitter.com/PeterLBrandt/status/1839061041323642886
Bitcoin's failure to push past $65,200 shows weak recovery momentum. As a result, traders are watching for a breakout or further consolidation. A clear move above $70,162 would be a strong signal for the beginning of a new upward trend.
Triangle Pattern Suggests Volatility Is Coming
Brandt also identified an expanding triangle pattern that has been developing for the past six months. This pattern usually points to higher volatility and may suggest that Bitcoin could see sudden price changes. The resistance intervals are between $62,000 and $70,100, while the support level sits at $49,130.
This expanding triangle reflects the current market uncertainty as many traders expect a major price movement soon. With factors like inflation and rising interest rates playing a role, Bitcoinâs path remains unclear, and traders are waiting for signs of a breakout.
Support Limits Are Crucial for Bitcoin's Next Move
Along with resistance levels, support levels are equally important. The $49,130 support level is critical, as a drop below this level would likely confirm further losses and extend the current downtrend. If Bitcoin can stay above this level, there is a chance for a rally, though the $70,162 resistance still poses a major challenge.
The post Bitcoin Faces $64,000 Struggle as Traders Watch for Breakthrough appeared first on Crypto News Land.
