Bitcoin's Price Analysis: A Calm Before the Storm? After briefly surpassing $69,000, Bitcoin has entered a corrective phase. Analysts attribute this correction to a retest of the 55 EMA on the 4-hour chart at $66,000, which could precede another attempt to break above $70,000. Keith Alan, co-founder of Material Indicators, emphasizes the importance of closing a daily candle above $69,000 for Bitcoin to regain momentum towards its all-time highs. However, significant sell orders are positioned above $70,000, posing a challenge to the bulls. A failure to overcome the $69,000 resistance could lead to further consolidation or a retest of support levels. The outcome of this consolidation will determine Bitcoin's next move, potentially setting the stage for a resurgence or a more extended corrective phase.