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<p>The post <a href="https://coinpedia.org/news/bitcoin-price-prediction-market-reset-complete-bullish-relief-fades-next-target-70k/">Bitcoin Price Prediction: Market Reset Complete, Bullish Relief Fades; Next Target: $70K</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Bitcoin is once again at a crucial support level, facing a critical test that could shape its short-term future. Analysts are closely watching as Bitcoin repeats familiar patterns, hinting at the possibility of a major move.&nbsp;</p> 
<p><a href="https://www.youtube.com/watch?v=9syTx8D-95k">Analyst Josh of Crypto World</a> said that Bitcoin has been in a bearish trend, as indicated by the Super Trend indicator on the 4-day chart. This trend is characterized by lower highs and lower lows, suggesting a continuation of downward pressure. However, within this bearish trend, Bitcoin has found temporary relief, bouncing off a significant support level.</p> 
<p>Over the past week, Bitcoin has been experiencing a “bullish relief”—a temporary rebound in price following a period of oversold conditions. This bounce is not uncommon during bearish trends, where brief upward movements or sideways price action occur as the market resets.</p> 
<h3 class="wp-block-heading" id="h-key-support-and-resistance-levels"><strong>Key Support and Resistance Levels</strong></h3> 
<p>As of now, Bitcoin is hovering around the $60,000 to $61,000 support zone, a critical area that has historically served as both resistance and support. A confirmed breakout above this level, as seen recently, is a positive sign, but the market remains cautious.</p> 
<p>To flip the broader trend back to bullish, Bitcoin needs to break through multiple resistance levels, with the first significant barrier at $63,000. Beyond that, the $67,000 to $68,300 range is another major resistance zone that could determine the direction of Bitcoin’s price in the near term.</p> 
<h3 class="wp-block-heading" id="h-comparing-current-trends-to-past-market-behavior"><strong>Comparing Current Trends to Past Market Behavior</strong></h3> 
<p>Interestingly, the current price action mirrors patterns seen during the March 2020 crash, where Bitcoin formed a double bottom before rallying. This time, Bitcoin has followed a similar path, with a sharp drop followed by a minor recovery. The key difference now lies in whether this relief can turn into a sustained rally or if the bearish trend will resume.</p>

Bitcoin Price Prediction: Market Reset Complete, Bullish Relief Fades; Next Target: $70K

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